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deficit financing |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.04 sec. |
deficit financingIn government, the practice of spending more money than is received as revenue, the difference being made up by borrowing or minting new funds. The term usually refers to a conscious attempt to stimulate the economy by lowering tax rates or increasing government expenditures. Critics of deficit financing regularly denounce it as an example of shortsighted government policy. Advocates argue that it can be used successfully in response to a recession or depression, proposing that the ideal of an annually balanced budget should give way to that of a budget balanced over the span of a business cycle. See also John Maynard Keynes; national debt. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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By eliminating deficit spending (not to be confused with the ``structural deficit,'' which still exists), not raising taxes and keeping growth in spending modest -- just 1 percent -- he's getting the state into financial shape to make the deep investments in infrastructure that are badly needed. Despite his claim of fiscal conservatism, his predilection for record deficit spending and borrowing continues along a historically high path. The renaissance of deficit spending cannot be laid at the feet of the nation's poor. |
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