What terms are related to deficit?

Related terms include: National Debt, Fiscal Year. Understanding these related concepts helps provide context for deficit.

Budget & Spending

Deficit

The amount by which federal government spending exceeds revenue in a given fiscal year.

The total amount of money the federal government owes to creditors, accumulated over time from annual deficits.

The federal government's accounting year, running from October 1 through September 30. FY2026 began on October 1, 2025.

What is a deficit?: The amount by which federal government spending exceeds revenue in a given fiscal year.
What terms are related to deficit?: Related terms include: National Debt, Fiscal Year. Understanding these related concepts helps provide context for deficit.