the government's budget deficit refers to the:
Government debt is the debt owed by a government. By contrast, the annual government deficit refers to the difference between government receipts and spending in a single year. Government debt can be categorized as internal debt and external debt. Another common division of government debt is by duration until repayment is due. Short term debt is generally considered to be for one year or less, long term is for more than ten years. Medium term debt falls between these two boundaries. A broader