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Public Debt
The total amount of money that a government has borrowed and still owes.
Federal Budget Deficit
The financial shortfall when a government's expenditures exceed its revenues in a given fiscal year.
Federal Budget Surplus
The situation where a government's revenue exceeds its spending during a fiscal period.
National Debt
National debt is the total amount of money that a country's government has borrowed, by various means, including bonds and securities, from domestic or foreign sources.
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