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Grade 6-8, 9-12

Budget Deficits and Public Debt Video and Quiz

Updated: July 12 2012,
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This video teaches the concepts of Budget Deficits and Public Debt. If taxes collected are less than the money spent in a given year, the government has a budget deficit. When a budget deficit occurs, the government borrows the money that it needs to finance its expenditures. For example, the U.S. government borrows by issuing Treasury bonds.