What is an example of a deficit?
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A budget deficit occurs when a government spends more in a given year than it collects in revenues, such as taxes. As a simple example, if a government takes in $10 billion in revenue in a particular year, and its expenditures for the same year are $12 billion, it is running a deficit of $2 billion.
An example of a deficit is if a government takes in $10 billion in revenue in a particular year, and in expenditures for the same year are $12 billion, it is running a deficit of $2 billion.