The United States budget, or National deficit, is expected to be $744 billion for the fiscal year 2014. However when compared to 2009's 1.4 trillion dollar budget deficit, you'll agree that the U.S. government has made a tremendous amount of improvement. A Budget, or National, deficit is the result of a government putting out or spending more money than it pulled in or made, which will lead it to borrow money to pay off its remanding expenses. Governments normally borrow money from people, businesses, and foreign countries. They do this by issuing IOU's such as Treasury bills, notes, and bonds, ultimately increasing its national debt. The U.S. national debt is now more than $16 trillion. Fiscal conservatives feel that the only way to keep our national debt from rising any higher is to create a balanced budget policy, that will curb or cut spending, which could eventually lead to a U.S. budget surplus instead of a deficit at the end of future fiscal years.Edited by Reginald Forest
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