Which of the following is true of the federal budget deficit?

A. The federal budget deficit is usually larger than the national debt.

B. The federal budget deficit is equal to the interest payments on the national debt.

C. The federal budget deficit is equal to the excess of federal spending relative to federal revenues during a year.

D. The federal budget deficit is financed by the printing of money and therefore it is equal to the increase in the money supply during the year.