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Rescind/Rescission

To cancel or withdraw a law, an appropriation (approved spending), or a decision.

Unobligated balances

Money that has been approved by Congress for spending but has not yet been legally committed or promised for a specific purpose or project.

Discretionary appropriations

Money that Congress decides to spend each year through specific bills, typically for programs like defense, education, or environmental protection, as opposed to mandatory spending like Social Security.

Fiscal year

The 12-month period for which a government or business plans its budget. For the U.S. federal government, it runs from October 1 to September 30.

Deficit reduction

The process of decreasing the difference between the government's spending and its revenue, or reducing the national debt.

General fund of the Treasury

The primary bank account for the U.S. government, where most revenues are deposited and most expenditures are made.