what is Budget loss & trade loss

Budget loss is when governments spend more then they earn (through taxes)
They have two choices, either to make people pay more taxes or sell bonds : a bond is a
promise to pay the amount at a future point of time, with interest. Most government find it
convenient to pay by bonds instead of limiting expenses or raising tax rates, one of the
problems of economy, govt just can’t give a bitter pill to the nation.
A trade loss is when a nation is importing more than it is exporting. Basically It means that it is
losing it’s value to other nations.