Federal Deficit

Federal Deficit (Surplus)
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.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.