What is the Difference between Eliminating and Financing a Budget Deficit?

A budget deficit occurs when government spending exceeds government revenue (G>T). It can be ELIMINATED by making cuts to government spending or by increasing taxation, in the hope that it will it will create a balance (G=T) or surplus (G<T). Only if the budget deficit continues where government spending exceeds government revenue it has to FINANCED by public sector borrowing, also known as public sector's cash requirement. When there is a budget deficit there is a positive borrowing requirement.