The federal deficit (or surplus) refers to the shortfall (or surplus) resulting when the federal government spends more (or less) in a fiscal year than it receives in revenue. The deficit is financed by borrowing from the public via long and short-term debt instruments.
Gross federal debt refers to the total amount of debt that the federal government has accrued over time, encompassing both public and private holdings.
National debt refers to the total amount of money that the federal government owes to creditors due to borrowing. It consists of various debt instruments such as Treasury bills, Treasury notes, and Treasury bonds. The interest on the national debt is a significant part of the federal government's annual expenses.
Public debt, also known as government debt or sovereign debt, refers to the borrowings by governments to finance expenditures not covered by current tax revenues. It is accumulated by the government through the issuance of securities such as bonds and is an essential part of fiscal policy and economic management.
The Public Sector Net Cash Requirement (PSNCR) represents the amount of borrowing needed by the UK government when its expenditure surpasses its income.
The Treasury Department is an executive department of the U.S. government responsible for managing national finances, including collecting taxes, paying bills, and managing currency, government accounts, and public debt. It aims to promote economic growth and stability.
A War Loan refers to government-issued securities distributed during wartime to raise funds for war efforts. These loans typically carry a fixed interest rate and traditionally do not have a redemption date.
