Budget Terminology

Deficit - Yearly Budget Shortfall

Debt  - Multiyear accumulation of Deficits

Expenditures - Three Types

Mandatory - Soc Sec, Medicare, Interest etc

Discretionary - Defense, Health, Education etc

Supplemental - Funding which is considered emergency and is not considered part of the Budget and does not show up in the deficit, yet it adds to the debt

PAYGO - Pay As You Go - discipline used in the 90's to reduce deficits and debt. Reinstated on the House side but not the Senate in 2007

 

Pages in this section provide graphs of exiting spending along with corresponding deficit and debt results. To print graphs, select and right click the mouse to select print