Public Debt / Debt Ceiling / Debt Limit (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Public Debt / Debt Ceiling / Debt Limit   Debt Limit – A Guide to American Federal Debt Made Easy   Public Debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The … Read more

Basic Federal Budgeting Concepts and Terminology

The federal budget process typically involves a rather complex series of legislative and executive procedures and various financial transactions. photo credit: Evelyn Proimos The term Revenue refers to income that is received by the federal government. (The executive branch also uses receipts as a term for revenue.) Revenue may be raised from a variety of … Read more

Omnibus Bill (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Omnibus Bill: A measure that combines the provisions related to several disparate subjects into a single measure. Examples include continuing appropriations resolutions that might contain two or more of the twelve annual appropriations bills. See the 12 Subcommittees of the House Committee on Appropriations. The … Read more