Dace definition: A dace is a type of fish that lives in rivers and lakes . | Meaning, pronunciation, translations and examples English Dictionary | Thesaurus | Translator | Grammar | Scrabble | Blog English
A budgetary situation when the expenses incurred by the government are over and above the tax revenues taken in. Also called Federal Debt.
The countryâs annual deficit is the difference between what the government collects in revenues and spends in one year. The national debt, which exceeds $18 trillion, is the net of annual deficits minus any annual surpluses. To back up his claim, Obama is comparing his first budget year in office -- 2009 -- to 2014.