federal deficit
noun [C] FINANCE, GOVERNMENT, ECONOMICSDefinition
› the amount by which the US government's spending is bigger than the money it gets from taxes in a particular year: The Congressional Budget Office projects this year's federal deficit at around $172 billion.eliminate/reduce/add to the federal deficit Senate Democrats pledged to pay for new tax cuts or programs rather than add to the federal deficit.
(Definition of federal deficit noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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