What terms are related to national debt?

Related terms include: Deficit, Debt Ceiling. Understanding these related concepts helps provide context for national debt.

Budget & Spending

National Debt

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

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

The maximum amount of money the federal government is authorized to borrow. Congress must vote to raise or suspend it to avoid default.

What does "National Debt" mean?: The total amount of money the federal government owes to creditors, accumulated over time from annual deficits.
What terms are related to national debt?: Related terms include: Deficit, Debt Ceiling. Understanding these related concepts helps provide context for national debt.