[This is part of the series: The Complete Guide To Economics 101.]
In economics, what is referred to as Budget Deficit?
Budget Deficit is the money short after all government monetary inflows, and outflows are accounted for.
(Gov. Receipts) – (Gov. Spending) = Budget Surplus or Budget Deficit
You know government though.
A Budget Deficit is usually the case.
You could call a Budget Surplus a unicorn of macroeconomics.