A trade deficit occurs when a country buys more goods from other nations than it sells to them. Thus the total value of imports is greater than that of exports. A trade deficit can be assessed through ...

A fiscal deficit occurs when a government's spending exceeds its income within a specific period, typically a fiscal year. This means the government is spending more money than it is earning.

The trade deficit has long been a fixture in political debates, often presented as a sign that America is falling behind economically. Candidates talk about it as if it's a national failing, something ...