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Budget Deficits
The situation where a government's expenditures exceed its revenues in a given fiscal period, leading to borrowing or printing of money.
National Debt
The all-encompassing volume of money borrowed by a nation's government through different strategies.
Recession
A stretch of momentary economic regression, with a downturn in industrial and trade operations, generally pinpointed by a GDP fall in two sequential quarters.
Crowding-Out Effect
A situation where increased government spending leads to a reduction in private sector spending, either because it raises interest rates or because it uses up available financial resources.
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