Question

According to A Citizen's Guide to the Federal Budget, a budget deficit is defined as, "the difference produced when spending exceeds revenues in a fiscal year." Paraphrase the definition and explain how a budget deficit occurs.

Answer 1

Answer:

According to A Citizen's Guide to the Federal Budget, a budget surplus is defined as "an amount by which revenues exceed outlays."

I can paraphrase this in the following way to ensure that it explains how it can result into surplus.

Surplus normally the amount by which revenues exceed expenditures in the federal budget this will automatically lead to budget surplus.

But it is worth noting that the federal government only run a surplus only in four years in the last half century that is from 1998 to 2001.

Explanation:

Answer 2

An amount by which revenues exceed outlays is referred to as a budget surplus in A Citizen's Guide to the Federal Budget.

The gap between what the federal government receives in taxes and other sources and what it spends on necessary and discretionary expenses is known as the federal budget deficit.

Why is budget deficit Good?

The deficit will eventually decrease as a result of higher growth that the deficit expenditure can help permit. In a downturn, balancing the budget can actually make things worse.

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