A budget deficit is spending more in a year than you take in. Run a budget deficit, close the budget deficit, a widening budget deficit.
It is a yearly figure, which is why it is not the same thing as the national debt that it adds to. Almost every state runs a budget deficit in a downturn, since tax falls and spending rises together.
1nounbudget deficitSpending more in a year than you take in.
“The budget deficit widened for a third year running.”
budget deficit is a shortfall.
Practised in Politics & Society