+A **budget deficit** arises when [Government Spending](/wiki/government_spending) surpasses [Tax](/wiki/tax) revenue in a given fiscal year. This financial gap often necessitates borrowing, contributing to the nation's [National Debt](/wiki/national_debt).
+## See also
+- [Fiscal Policy](/wiki/fiscal_policy)
+- [Budget](/wiki/budget)
+- [Surplus](/wiki/surplus)
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