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 … Read more

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 … Read more

Federal Debt (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Federal Debt     The Debt Ceiling Explained: Why You Should Care     The federal debt consists of public debt, which occurs when the Treasury of the Federal Financing Bank (FFB) borrows money directly from the public or other funds or accounts, and government … Read more

Engrossed Bill / Engrossed Measure (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Engrossed Bill / Engrossed Measure photo credit: alancleaver_2000 The final official copy of a bill as passed by one chamber, with the text as amended by floor action and certified by the clerk of the House or the secretary of the Senate. After a measure … Read more