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Budget resolution, congressional

National Debt Glossary: Key terms for understanding America's financial crisis


A set of numbers stating how much Congress is supposed to spend in each of 19 broad spending categories (known as budget "functions") and how much total revenue the government will collect, for each of the next five or more years. The difference between the two totals — the spending ceiling and the revenue floor — represents the deficit (or surplus) expected for each year.

SOURCE: Center on Budget and Policy Priorities

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