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

Hochul’s pied-à-terre tax aimed to help make a dent in New York City’s estimated $12 billion budget deficit.

From The Wall Street Journal • May 15, 2026

But opposition from the state government and members of the city council apparently led the insurgent former state legislator to pursue other measures to help plug New York's budget deficit that reached around $12 billion.

From Barron's • May 12, 2026

The budget deficit has already swollen close to the planned target for the whole year.

From BBC • May 8, 2026

The latter in particular may mean a higher government budget deficit that requires the issuance of more U.K. government bonds, pressuring prices.

From MarketWatch • May 6, 2026

Through knowledge, political will, and perhaps some luck, we seem to have tamed inflation and the budget deficit.

From "Newjack: Guarding Sing Sing" by Ted Conover