While scanning the entertainment section of your local online newspaper, you click on the business section by mistake. While you're there, you quickly scan a report that says government spending will again exceed tax revenues in the current year. This means that the _______.

While you are there, you quickly scan a report that says that government spending will again exceed tax revenue in the current year. This means the total national debt will likely to increase.

Explanation:

Countries run through the money that is collected from taxes. Governments use this money to spend on the citizens on different sectors like:

Education
Health care
Electricity
Petroleum
Recreational centers, etc

When government is unable to collect enough taxes that would completely cover the spending of the government on different sectors, then governments have to take loans from other countries or from the international monetary fund. This results in the formation of national debt that the governments have to pay back. When this practice continues, the debt also continues to increase.

This means when the spending of the government exceeds the collection of taxes or the money collected, the national debt will likely to increase.

Learn more about government spending at:

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