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budget deficit

noun

the amount by which government expenditure exceeds income from taxation, customs duties, etc, in any one fiscal year

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Example Sentences

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S&P Global Ratings has lowered the bond ratings for the city of Los Angeles, which is trying to close a nearly $1-billion budget deficit.

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County, the city of Los Angeles recently gave its workers significant pay raises, which are now a major factor in a nearly $1-billion budget deficit, along with ballooning legal payouts and a weakening national economy.

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In February, Lief learned that she was one of nearly 150 Pasadena teachers being laid off as the district deals with a reported $37-million budget deficit.

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“This is a tariff policy we’ve been told will solve the fentanyl crisis, get rid of illegal immigration, rescue the budget deficit, solve bilateral trade deficits and cure toe fungus,” Wolfers said on MSNBC.

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Chief among them is a gaping budget deficit nearing $1 billion, a number that will almost certainly require sweeping cuts and tough negotiations with the Board of Supervisors and the city’s public labor unions.

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budgetary control budgeteer

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