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

New York Gov. Kathy Hochul is planning to propose a tax on New York City’s second homes worth $5 million or more in an effort to fill the city’s yawning budget deficit.

From The Wall Street Journal • Apr. 15, 2026

Capital Economics said Hungary’s budget deficit could narrow toward 3.5-4.0% of gross domestic product over the coming years, from around 5.5% this year, under the new government.

From The Wall Street Journal • Apr. 13, 2026

The US budget deficit remained virtually stable during the first three months of 2026, as increased revenue -- primarily from income taxes and customs duties -- offset an acceleration in spending.

From Barron's • Apr. 10, 2026

A projection by the city administrative officer estimates the city’s budget deficit to be “several hundred million.”

From Los Angeles Times • Apr. 8, 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