Term
| government budget deficit |
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Definition
| An excess of government spending over government revenues during a given period of time. |
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Term
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Definition
| A situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given period of time. |
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Term
| government budget surplus |
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Definition
| An excess of government revenues over government spending during a given period of time. |
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Term
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Definition
| The total value of all outstanding federal government securities. |
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Term
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Definition
| All federal government debt irrespective of who owns it. |
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Term
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Definition
| Gross public debt minus all government interagency borrowing. |
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Term
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Definition
| Guaranteed benefits under a government program such as Social Security, Medicare, or Medicaid. |
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Term
| noncontrollable expenditures |
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Definition
| Government spending that changes automatically without action by Congress. |
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