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A trade deficit therefore occurs when a country spends more on imports than it receives in exports. A budget deficit, in the context of the government, instead occurs when there is more federal spending than revenue taken in from taxes, duties, fines, and other fees.
A trade deficit therefore occurs when a country spends more on imports than it receives in exports. A budget deficit, in the context of the government, instead occurs when there is more federal spending than revenue taken in from taxes, duties, fines, and other fees.
