Introduction
The rationale of the above paper is to outline the difference amid budget deficit and national debt while at the same time indicating their significance. The paper seeks to justify as to whether different governments in the global setting should operate with a balanced budget or not. In the article, budget deficit is defined as the amounts of cash spend in excess by the government over the government income generated from tax revenue during a set time as part of government expenditure (Furgang & Furgang, 2012). The shortfall in tax revenue is therefore compensated through borrowing or currency emission as ...
