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Budget Crisis.
In: Salem Press Encyclopedia, 2022-09-01, S. 3
Online
Nachschlagewerk
Zugriff:
A budget crisis occurs when a government lacks the monetary resources it needs to function properly. More simply, a government spends more money on programs and services than it collects in revenue (i.e., taxes) and must borrow to cover the gap. The more a government borrows, the bigger its debt grows and the more difficult it becomes for the government to pay back what it owes. Such borrowing is unsustainable in the long term and poses a serious threat to the economy. A budget crisis may occur at any level of government and can have dramatic, widespread effects.
Titel: |
Budget Crisis.
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Autor/in / Beteiligte Person: | Rohland, Lindsay |
Zeitschrift: | Salem Press Encyclopedia, 2022-09-01, S. 3 |
Veröffentlichung: | 2022 |
Medientyp: | Nachschlagewerk |
Sonstiges: |
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