Terms to Know and Love: Difference between revisions

Revision as of 04:01, 4 May 2006

Deficit: The amount by which the federal government’s total outlays exceed its total revenues in a given period, typically a fiscal year.

Fiscal Year: A yearly accounting period. The federal government’s fiscal year begins October 1 and ends September 30. Fiscal years are designated by the calendar years in which they end—for example, fiscal year 2007 will begin on October 1, 2006, and end on September 30, 2007.

Budget Year: The fiscal year for which the budget is being considered; in relation to a session of Congress, it is the fiscal year that starts on October 1 of the calendar year in which that session of Congress begins.

Out-year: A fiscal year following the budget year. The current year is the fiscal year in progress.

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 {{Budget Guide}}
-;GDP: Gross Domestic Product
+;<font size=3><u>Deficit</u>: ''The amount by which the federal government’s total outlays exceed its total revenues in a given period, typically a fiscal year.''</font>
-;TFP: Total Factor Productivity
+;<font size=3><u>Fiscal Year</u>: ''A yearly accounting period. The federal government’s fiscal year begins October 1 and ends September 30. Fiscal years are designated by the calendar years in which they end—for example, fiscal year 2007 will begin on October 1, 2006, and end on September 30, 2007.''</font>
+;<font size=3><u>Budget Year</u>: ''The fiscal year for which the budget is being considered; in relation to a session of Congress, it is the fiscal year that starts on October 1 of the calendar year in which that session of Congress begins. ''</font>
+;<font size=3><u>Out-year</u>: ''A fiscal year following the budget year. The current year is the fiscal year in progress.''</font>
+;<font size=3><u>GDP</u>: ''Gross Domestic Product''</font>
+;<font size=3><u>TFP</u>: ''Total Factor Productivity''</font>