Athletics & Recreation We donât just cheer for our 27 NCAA Division 1 teams, we Raise High the Buff and Blue! Colonials have won more than 95 team championships in 15 different sports â from basketball to tennis, gymnastics to golf.
Government debt is the debt owed by a government. By contrast, the annual government deficit refers to the difference between government receipts and spending in a single year. Government debt can be categorized as internal debt and external debt. Another common division of government debt is by duration until repayment is due. Short term debt is generally considered to be for one year or less, long term is for more than ten years. Medium term debt falls between these two boundaries. A broader
If government spending is $100 billion while government revenue is $120 billion, the government is said to have a: $20 billion budget surplus. If government spending is $500 billion while government revenue is $475 billion, the government is said to have a: $25 billion budget deficit. Suppose the government's initial debt is $70 billion. If for the next three years the government runs deficits of $10, $25, and $40 billion, the government's total debt at the end of the three years will be: $145 billion. Suppose the government's initial debt is $150 billion and that during the next two years the government runs deficits of $30 and $10 billion. If during the third year the government has a $15 billion surplus, the government's additional debt at the end of the three years will be: $25 billion. If there was a federal budget surplus it would make it possible to: