Respuesta :
The federal government is said to be in a deficit if it spends more than it brings in.
A budget deficit exists when the government spends more than it brings in. A budget surplus exists when the government spends less than it brings in. The government ran a deficit in fiscal year (FY) 2022 because it spent $6.27 trillion more than it brought in (revenue).
The opposite of a surplus is a deficit. When spending outpaces income, the government must borrow money to pay for expenditures. The United States last had a budget surplus in 2001. The U.S. budget deficit in 2021 exceeded $2.8 trillion.
An annual surplus rather than a deficit occurs when the government raises more money than it spends. The Congressional Budget Office (CBO) predicts that the budget deficit for fiscal year 2022 will be close to $1 trillion.
To learn more about federal government
https://brainly.com/question/20083762
#SPJ4
