Staying Fit
A term sometimes applied to a period when federal agencies lack authority to obligate or spend funds because their appropriations for that period have not been enacted.
Spending gaps occur most frequently at the beginning of a fiscal year, but agencies occasionally run out of money later in the year. During such periods, agencies sometimes furlough many of their employees and shut down many of their operations.
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SOURCE: House Budget Committee
See all terms in the National Debt Glossary
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