Question

What's the name given to the government practice of borrowing money to spend more then it's collected in Taxes

Answer 1

The government practice of borrowing money to spend more than is collected in taxes is called "deficit spending."

Answer 2

Deficit spending

In fiscal 2017, the US government's deficit spending was $668 billion, which was $82 billion more than deficit spending had been in 2016.  We're on pace for an even bigger increase in 2018.  Deficit spending for the first half of fiscal 2018 was $598 billion, and the Treasury Department expects to have to borrow over $700 billion for the second half of the fiscal year.