the amount by which a government’s annual expenditures exceed its annual tax revenues
Government budget deficits can be cured by cutting spending, raising taxes or a combination of the two. Deficits must be financed by borrowing money. Interest must be paid on borrowed funds, which increases the deficit.
In the news… U.S. budget deficit totals $974B through July (CBSNEWS.COM, 9/10/12)
the amount by which a government’s annual tax revenues exceed its annual expenditures
In the news… President Obama Sees First Budget Surplus Of Presidency
A political strategy employed by US Republican lawmakers designed to limit government spending by cutting taxes thereby depriving the government of revenue
In the news… Paul Krugman / Starve the beast: Fiscal calamity is the GOP’s plan to shrink government
Tagged Government spending, small government, tax cuts, taxes
the ARGOTIST 