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Line 1: − The amount by which outlays exceed receipts in a given fiscal period. (A [[surplus]] would be the amount by which the receipts exceed outlays).<ref>[http://www.senate.gov/reference/glossary_term/deficit_or_surplus.htm] US Senate Reference</ref>+
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A Deficit is the amount by which outlays exceed receipts in a given fiscal period. (A [[surplus]] would be the amount by which the receipts exceed outlays).<ref>[http://www.senate.gov/reference/glossary_term/deficit_or_surplus.htm] US Senate Reference</ref>
==References==
==References==
<references/>
<references/>
[[Category:United States Senate Terms]]
[[Category:United States Senate Terms]]