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.
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?