Tag: Budget Control Act of 2011

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

Budget Deficit / Budget Surplus (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Budget Deficit / Budget Surplus   Lesson 1 National Debt & Budget Deficit Explained   The relationship between spending and revenues is reflected in the surplus or deficit figure. A surplus is an excess of revenues over outlays, while a deficit is an excess of […]

Statutory Limit on the Public Debt / Budget Control Act of 2011 (CongressionalGlossary.com)

Statutory Limit on the Public Debt / Budget Control Act of 2011 (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Statutory Limit on the Public Debt / Budget Control Act of 2011 The maximum amount, established in law, of public debt that can be outstanding. The debt limit covers virtually all debt incurred by the Federal Government (primarily the Treasury Department), including borrowing from trust […]

Date Shifting / Fiscal Transparency / Fiscal Illusion (Congressional Glossary)

Date Shifting / Fiscal Transparency / Fiscal Illusion (Congressional Glossary)

From the Congressional Glossary – Including Legislative and Budget Terms Date Shifting / Fiscal Transparency / Fiscal Illusion One of the budgetary maneuvers used by Congress. Congress can shift scheduled payments for contracts, or even for federal employee salaries, by a few days in order to move expenditures from one fiscal year to another. For […]

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

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 […]

Budget Process (CongressionalGlossary.com)

Budget Process (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Budget Process photo credit: irina slutsky Established by the Congressional Budget and Impoundment Act of 1974, the budget process refers to the steps necessary for adoption of a concurrent resolution on the budget, thereby creating the framework for consideration of appropriations bills and authorizing legislation. […]