A budget is an estimation of income and expenses over a set time. It is usually drawn up and re-evaluated periodically.
Budgets can be made for a person, a group, a business, a government, or anything else that makes and spends money.
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"Making money is art and working is art and good business is the best art." ~ Andy Warhol
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The main cause of a budget deficit is: spending more than what you're making!
However, when it comes to large scale-spending, like how the government spends, it can be difficult to track due to low taxes and high spending.
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