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

The Constitution of the United States: Amendment 27 (27th Amendment – Limiting Congressional Pay Increases)

The Constitution of the United States: Amendment 27 (Twenty-Seventh Amendment) Amendment XXVII. (Limiting Congressional Pay Increases) Originally proposed Sept. 25, 1789. Ratified May 7, 1992. No law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of representatives shall have intervened.   The 27th Amendment Explained: The … 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