The Federal Budget
Budget Surpluses (Deficits) and the Federal Debt: How Are They Linked?
Research Report
Satyendra Verma, AARP Public Policy Institute
Jules Lichtenstein, AARP Public Policy Institute
February 2005
Understanding the federal budget from an accounting perspective is important for grasping the relationship between budget surpluses or deficits and federal debt. In this AARP Public Policy Institute Data Digest, Jules Lichtenstein and Satyendra Verma employ budget accounting conventions to frame and explain the policy issues surrounding Social Security reform, national savings, and the effect of government borrowing on the economy. (4 pages)
Pub ID: DD109