Federal Budget

Definition

The federal budget is a detailed financial document outlining the government's projected revenue and spending for the upcoming fiscal year.

Related terms

Appropriations Bill: This is a legislative act proposing to authorize the expenditure of public funds for a specific purpose.

Fiscal Policy: This refers to the use of government revenue collection (taxation) and expenditure (spending) to influence a country's economy.

Deficit Spending: This occurs when spending exceeds revenue over a particular period of time, typically a fiscal year.