학술논문
Deficits, Debt, and the Economy: An Introduction.
Document Type
Article
Author
Source
Congressional Research Service: Report; 12/20/2022, Preceding p1-13, 15p
Subject
Language
ISSN
07317069
Abstract
The article focuses on federal government incurs a budget deficit when its total outgoing payments exceed the total money it collects revenue. It mentions federal debt increases when there are net budget deficits and outflows made for federal credit programs, which combine to represent debt held by the public. It also mentions historic economic shocks of the Great Recession and COVID-19 pandemic and ensuing federal responses generated the five largest real federal deficits.