Free trade: Free trade, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). a
Deficit Reduction Act 2005 Law and Legal Definition. The Deficit Reduction Act of 2005 is a United States Act of Congress concerning the budget. It addresses deficit reductions ranging from education to housing and Medicare to Medicaid. It was signed into law by President Bush on February 8, 2006 after a closely divided Congress approved the legislation.
Deficit spending is the practice of either printing, borrowing, or spending money beyond what is available in a budget. The word is usually used when referring to federal budgets. Think of deficit spending like borrowing on credit, but on a much larger scale. In fact, the principles of deficit spending are generally the same.