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 is a national debt?: 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.