Final answer:
Deficit spending is when the government spends more than it collects in taxes, leading to an unbalanced budget that requires borrowing through issuing bonds.
Explanation:
Deficit spending refers to a situation where the government spends more money than it collects in revenues (taxes), resulting in an unbalanced budget. This leads to the government having to borrow funds by issuing bonds to cover the deficit. Deficit spending during times of recession is often viewed as a beneficial policy to boost the economy.
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