{"id":1279,"date":"2022-09-27T20:42:30","date_gmt":"2022-09-27T20:42:30","guid":{"rendered":"http:\/\/www.whatistandfor.co\/conservativecitizen\/?p=1279"},"modified":"2022-09-27T20:50:05","modified_gmt":"2022-09-27T20:50:05","slug":"what-is-the-national-deficit","status":"publish","type":"post","link":"http:\/\/whatistandfor.co\/conservativecitizen\/what-is-the-national-deficit\/","title":{"rendered":"What is the national deficit?"},"content":{"rendered":"\n<p>A deficit occurs when the federal government\u2019s spending exceeds its revenues. The federal government has spent $945.72 billion\u00a0more than it has collected in\u00a0fiscal year (FY)\u00a02022, resulting in a national deficit.<\/p>\n\n\n\n<p>A budget deficit occurs when money going out (spending) exceeds money coming in (revenue) during a defined period. In FY&nbsp;2021, the federal government spent $6.82&nbsp;trillion and collected $4.05&nbsp;trillion in revenue, resulting in a deficit. The amount by which spending exceeds revenue, $2.77&nbsp;trillion in&nbsp;2021, is referred to as deficit spending.<\/p>\n\n\n\n<p>The opposite of a budget deficit is a budget&nbsp;surplus, which occurs when the federal government collects more money than it spends. The U.S. has experienced a fiscal year-end budget surplus five times in the last 50 years, most recently in 2001.<\/p>\n\n\n\n<p>When there is no deficit or surplus due to spending and revenue being equal, the budget is considered balanced.<\/p>\n\n\n\n<p><a href=\"https:\/\/fiscaldata.treasury.gov\/national-deficit\/\" target=\"_blank\" rel=\"noreferrer noopener\">Treasury Department Link<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A deficit occurs when the federal government&rsquo;s spending exceeds its revenues. The federal government has<span class=\"more-button\"><a href=\"http:\/\/whatistandfor.co\/conservativecitizen\/what-is-the-national-deficit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\">What is the national deficit?<\/span><\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":1281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/posts\/1279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/comments?post=1279"}],"version-history":[{"count":1,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/posts\/1279\/revisions"}],"predecessor-version":[{"id":1280,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/posts\/1279\/revisions\/1280"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/media\/1281"}],"wp:attachment":[{"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/media?parent=1279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/categories?post=1279"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/whatistandfor.co\/conservativecitizen\/wp-json\/wp\/v2\/tags?post=1279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}