Federal Budget Glossary Annual Percentage Rate (APR)

Taxes
Typography

In 2013, Congress continues to struggle to resolve ongoing Federal Budget issues, constantly creating headlines in the news. What does it all mean? .

In 2013, Congress continues to struggle to resolve ongoing Federal Budget issues, constantly creating headlines in the news. What does it all mean? .

Adjusted Gross Income: Amount of income subject to federal income tax. In addition to any other tax credits, contributions to IRAs and 401(k) plans are subtracted from the total.

Annual Percentage Rate (APR): A standardized method of calculating interest rates. It permits the comparison of different interest rates just as unit pricing enables comparison shopping at the supermarket.

Austerity: A policy used to reduce budget deficits during adverse economic conditions by governments. The policy could include spending cuts and/or tax increases.

Bond: A long-term promissory note that obligates the borrower to make specified payments over a specific period of time. Bonds vary widely in maturity, security and type of issuer, although most are sold in $1,000 denominations.

Bull Market: An extended period of general price increases in the securities market.

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