The fiscal year for the federal government begins on Oct. 1 of each year and ends on Sept. 30 of the following year; it is designated by the calendar year in which it ends. For example, fiscal year 2011 began Oct. 1, 2010, and ended Sept. 30, 2011.
Frequently Asked Questions: National Debt
- How did the national debt get to be so big?
- What's the difference between the debt and the deficit?
- Why can't the government just print more money to get out of debt?
- How much U.S. debt is owned by foreign countries?
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