What happens if spending exceeds the certified revenue estimate?

When spending exceeds the certified revenue estimate, it can indeed result in a budget deficit. The certified revenue estimate serves as a guideline for the maximum amount of money that can be reasonably expected to be available for spending. If expenditures surpass this estimate, the government would have to either cut back on future expenditures or find other sources of revenue to cover this overage, which can lead to financial shortfalls.

A budget deficit indicates that the government's expenses are higher than its revenues. This situation creates a financial strain, requiring careful planning in future budget cycles to address the imbalance. While increased taxes or spending cuts may be potential responses to a budget deficit, they are not immediate consequences; rather, they are options the government may consider to rectify the situation.

Being allowed to exceed the certified revenue estimate without consequence is not an option under normal fiscal practices, as responsible budgeting relies on staying within the confines of available revenue to ensure fiscal stability.