economics budget deficit

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  • Created by: ishah
  • Created on: 08-05-13 16:10
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  • budget deficit
    • spend>income in
    • opposite - surplus
    • gov debt' - financed by borrowing
      • can print new currency to pay debts
        • may = inflation
      • sell assets -pay off debt
    • gov deficit measured with/out interest on debts
    • primary deficit
      • G - T
    • total deficit
      • spending + interest on debt - tax rev'
    • cyclic deficits
      • lowest point
        • high level of unemplo
          • T<G
      • peak of cycle
        • T>G
    • structural deficits
      • serious - persists
      • G too high for prevailing T levels
    • fiscal gap
      • diff' between G and T - long term

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