Deficit Spending: This term refers to when the government spends more money than it brings in through revenue, resulting in a budget deficit.
Sequestration: Sequestration is an automatic spending reduction that occurs when Congress fails to reach an agreement on budget cuts, leading to across-the-board cuts in various government programs.
Austerity Measures: Austerity measures are policies implemented by governments during times of economic crisis or high debt levels that involve reducing public spending and increasing taxes in order to address budget deficits.