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Economic Challenges Facing Global and Domestic Business - page 23 / 24

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Fiscal Policy - Government actions to influence economic activity through decision about taxes and spending.

The Federal Budget - Annual plan for how the government will raise and spend money in the coming year.  The primary sources of government funds:

taxes, borrowing, fees

When the government spends more than the amount of money it raised, there is a budget deficit.  When we borrow money to cover the deficit, the national debt is increased.

If the government has more money than it spends, there is a budget surplus.

National debt is tracked by the Government Accountability Office.

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