as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain what a "fiscal deficit" is.
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a fiscal deficit is when a government's total expenditures exceed its total revenues, or when a government is not able to fully fund its spending from its income. this deficit occurs when the government borrows money to finance its activities. in other words, it is a situation where the government has more expenses than it has income.
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