Entity: DEFICIT-BUDGET
A deficit-budget refers to a situation where government expenditure exceeds income from taxation and other sources in a fiscal year, leading to a shortfall in funds.
DEFICIT-BUDGET
Etymology
The term 'deficit-budget' originates from the concept of a budget shortfall, where government expenses exceed its income.
Definition
A deficit-budget occurs when government spending surpasses the revenue generated from taxes and other sources during a specific fiscal year.
Historical Context
Deficit-budgets have been a common occurrence in many countries throughout history, often resulting from economic downturns, wars, or fiscal mismanagement.
Cultural Significance
Deficit-budgets can have significant implications for a country's economy, leading to increased national debt, inflation, and potential austerity measures.
Related Concepts
Deficit spending, budget deficit, national debt, fiscal policy.
See Also
US Federal Budget Deficit Definition | USAFacts, Understanding Budget Deficits: Causes, Impact, and Solutions
A deficit-budget occurs when government spending surpasses the revenue generated from taxes and other sources during a specific fiscal year.