1、 https:/crsreports.congress.gov Updated March 6, 2017Deficits and DebtNet deficits and debt are the primary short- and long-term measurements of federal budget performance, which represents a critical congressional responsibility. This In Focus summarizes debt, deficits, and their interaction at the
2、 federal level; analyzes recent outcomes and their interaction with the economy; and discusses Congressional options for debt and deficit management. Fundamental Properties The federal government incurs a budget deficit when total outgoing payments (outlays) exceed monies collected (revenues). If in
3、stead revenues are greater than outlays, the government incurs a surplus. Deficits are measured over the course of the fiscal year, which runs from October 1 through September 30. Net interest payments, which measure inflows and outflows on interest from the federal debt, are included in deficit and
4、 surplus outcomes. Federal debt represents the accumulation of government borrowing activity from private citizens, institutions, and domestic and foreign governments. Debt levels increase when there are budget deficits, net outflows for federal credit programs, or increases in intragovernmental deb
