Many governments end up with chronic budget deficits because a. some resources are not available from within, so they have to be
bought from other nations. b. many government programs are popular with voters, but hardly any voter likes paying taxes. c. the nation simply cannot produce everything that it consumes, so it has to rely on other nations. d. businesses do not want to have "big government" around too much.
a. some resources are not available from within, so they have to be bought from other nations.
Explanation:
The budget deficit itself is an easily understood term. This third refers to the fact that a country spends more than it collects. That is, the tax paid by the population is not enough to cover the country's debts and expenses. This generates several bad results for the economy of the country, one of these results is that the country starts to stop producing some resources, and buy from other producing nations.
Many developed countries can manage to generate deficits year after year, one of the explanations for this is that they have some confidence in the market, but for those developing countries that do not have as much market confidence generate a deficit. Budgeting can be a real nightmare.
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