If the revenue is less than the expenditure, a budget is said to be in deficit.
A budget is divided into 3:
a. Surplus budget
b. Deficit budget
c. Balanced budget
Surplus : REVENUE greater than EXPENDITURE
Deficit : REVENUE less than EXPENDITURE
Balanced : REVENUE equals EXPENDITURE
sorry not Budget deficit... budget balance
At its simplest definition, if the government spends more then it gains, in a single year, then it has, what is called a 'budget deficit'. If there is a deficit, it adds to the US debt.
Government deficit reduces public savings (=saving of the government). Yet, the government can decide to finance the deficit by private savings (bonds, credit, etc). In this case, a part of national savings can be used to finance the gov. budget deficit. But this is not by definition, it is the action of the govenment.
A budget deficit is when the finances of a something exceeds its revenue. This basically means they have spent too much money.
fiscal deficit: not enough money budget deficit: not as much money as you had planned to have in your budget revenue deficit: not enough money coming in trade deficit: you are spending more money on imports than the amount of money which you receive for your exports.
Primary deficit=Fiscal deficit-[minus] Interest payments
The government was under pressure to raise more taxes due to the budget deficit they had.
a federal budget deficit
Taxpayers
budget deficit
by cheating
Currently in 2010-2011 1. Revenue Deficit 2. Fiscal Deficit 3.Primary Deficit. There used to be these 2 more type which have been now abolished 4. Budget Deficit 5. Monetised Deficit ~wt.what@gmail.com