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What are the Four Noble Truths? Briefly explain each.
Government Spending
Expenditures made by the government of a country on collective needs and wants such as infrastructure, public safety, education, and healthcare.
Public Debt
Money that is owed by a government to creditors within the country or externally, arising from borrowing to finance expenditures exceeding tax revenues.
Budget Deficits
The amount by which government spending exceeds its revenue over a specified period, leading to a need for borrowing or currency printing.
Federal Budget Deficit
The shortfall when a government's total expenditures exceed its total revenue for a specific fiscal period, leading to borrowing or the depletion of reserves.
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