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Deficit |
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Deficit
Deficit A situation in which outflow of money exceeds inflow. That is, a deficit occurs when a government, company, or individual spends more than he/she/it receives in a given period of time, usually a year. One's deficit adds to one's debt, and, therefore, many analysts believe that deficits are unsustainable over the long-term. See also: Surplus. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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California has yet to shake the perennial budget deficits that have dogged Schwarzenegger throughout his time in office. economic revival during the Clinton Administration, which also saw the yearly federal budget deficits give way to annual budget surpluses. In past years as the state has faced record budget deficits such proposals were dead on arrival. |
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