federal deficit; federal budget deficit
Refers specifically to the deficit of a federal government, often used in economic or political contexts.
The federal deficit reached a record high.
The government aims to reduce the federal deficit.
財政赤字 is a broader term for fiscal deficit, not limited to the federal level.
貿易赤字 means trade deficit, which is about imports exceeding exports, not government budget.
Compound of 連邦 (federal, federation) and 赤字 (deficit, literally 'red figures').