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A primary deficit needs to be financed by further borrowing.
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"As long as they're running a primary deficit, they need to keep tightening the belt," Mr. Truman said.
But once the state has eliminated its primary deficit, it will not need external finance to fund its day-to-day operations.
Greece is still running a primary deficit, and it will soon need to run a primary surplus.
Greece is still running a primary deficit (ie, excluding interest payments) and will need to borrow money come what may.
The deficit before interest payments, the so-called primary deficit, was 8.5 percent of G.D.P.
The deficit needs to be addressed when the economy recovers.
First, it has to stop running a so-called primary deficit, or the deficit before interest payments.
It aims to cut the primary deficit, which excludes interest payments, to zero by 2010.
But a collapse in house prices meant that its primary deficit actually worsened.
The first column shows each country's primary deficit or surplus adjusted for the economic cycle.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com