Fiscal Deficit

Definition

• When the government spends more money than it receives in revenue over the course of one year.

Synonyms
financial deficit, budget deficit, economic deficit

Related Terms and Acronyms

• Deficit — Definition,
  • When expenses surpass income or liabilities surpass assets.
• Economic Growth — Definition,
  • The rate of change in output from one year to the next.
• Exports — Definition,
  • Products and services produced in Canada and sold in other countries.
• Fiscal Policy — Definition,
  • The use of government spending and taxation policies to influence the economy.
• Fiscal Surplus — Definition,
  • When the government receives more in revenue than it spends over the course of the year.
• Gross Domestic Product (GDP) — Acronym,
  • The total value of all the goods and services produced by the Canadian economy in a single year.
• North American Free Trade Agreement (NAFTA) — Acronym,
  • An agreement between the United States, Canada, and Mexico that allows for freer trade between the three countries.
• Surplus — Definition,
  • When an entity's income exceeds its expenses.