MANAGEMENT

Detailed explanation-1: -The national debt is the amount of money the federal government has borrowed to cover the outstanding balance of expenses incurred over time. In a given fiscal year (FY), when spending (ex. money for roadways) exceeds revenue (ex.

Detailed explanation-2: -If you owe money to a federal agency and you did not pay it on time, you have a delinquent debt. You will receive a letter first from the agency to whom you owe the debt. If you do not pay the agency, the debt then goes to Treasury and we send you a letter about that debt.

Detailed explanation-3: -Public debt is a source of collecting income by state. Public or local debt is the debt the state collects from the citizens of other countries. When government borrow, then it gives birth to public debt. Government can take debt from banks, business or organizations, business houses and the person.

Detailed explanation-4: -The debt is the total amount of money the U.S. government owes. It represents the accumulation of past deficits, minus surpluses. Debt is like the balance on your credit card statement, which shows the total amount you have accrued over time.

Detailed explanation-5: -A fiscal deficit is a difference between a government’s total revenue and expenses in a given fiscal year. It indicates the extent to which a government relies on borrowing to finance its spending. A fiscal deficit can be funded by issuing government bonds, increasing taxes, or running down foreign exchange reserves.