fill in the blanks with these words budget deficit budget surplus interest payments national debt When a...

fill in the blanks with these words budget deficit
budget surplus
interest payments
national debt
When a government spends more in a year than it collects in taxes and must issue bonds to cover the difference, it is creating a __________.
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When tax revenues rise above yearly spending, allowing leaders to reduce debt or save for future needs, the government is running a __________.
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When repeated deficits accumulate over time into the total amount owed to lenders inside and outside the country, the result is the nation’s __________.
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When the government must devote part of its annual budget to paying lenders for the money it has previously borrowed, those required payments are known as __________.