Deliberate, planned overspending of revenues in a public budget, i.e., intentional government borrowing. – In the past, many believed that this would allow an economy in a downturn to be brought back to full employment, and that it would then be very easy to make up for the deficit in the resulting boom. Experience, however, has shown clearly enough that this has not succeeded anywhere. – See deficit hawk, budget deficit, crisis, landing, soft, recession, budget deficit, government debt pressure, cyclical.
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