Authority to incur obligations that evades the normal congressional appropriations process because it is provided in legislation other than appropriation acts. The most common forms are borrowing authority, contract authority, and entitlement authority.
See also: Appropriation
National Debt Glossary
Looks up the key terms for understanding America's financial crisis
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?