Public spending refers to government expenditures on various services and programs that benefit society as a whole. It includes investments in infrastructure, education, healthcare, defense, social welfare programs, etc.
Related terms
Budget Deficit: When government spending exceeds its revenue or income from taxes.
Fiscal Policy: Government decisions regarding taxation levels and public spending in order to influence economic conditions.
Welfare State: A system where governments play an active role in protecting citizens' well-being through public programs like healthcare, social security benefits, unemployment insurance, etc.