budget deficit

British  

noun

1. the amount by which government expenditure exceeds income from taxation, customs duties, etc, in any one fiscal year

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Example Sentences

The San Francisco deal comes as the district is facing a $102-million budget deficit and is under state fiscal oversight because of a long-standing financial crisis.

From Los Angeles Times

There will be limited room for rate cuts or higher budget deficits.

From Barron's

Not only will it need to finance a budget deficit of the order of $2 trillion a year, but it will also need to roll over around $9 trillion a year in maturing debt.

From Barron's

Not only will it need to finance a budget deficit of the order of $2 trillion a year, but it will also need to roll over around $9 trillion a year in maturing debt.

From Barron's

He has implemented major austerity measures — including more than 1,000 layoffs last year — to shore up a gaping budget deficit.

From Los Angeles Times