• The 2011 US debt ceiling crisis was one of a series of recurring debates over the increase in the overall size of the US government debt.

• The 25% rule is a heuristic that can refer to either public finance law or intellectual property law.

• Section 501(c) of the Internal Revenue Code defines certain types of organizations as tax-exempt - they do not pay federal income tax.

• The principle of ability to pay states that those who are more able to pay taxes, measured by income and wealth, should pay more.

• Salvation is the injection of money into a business or organization that would otherwise face inevitable collapse.

• A balanced budget occurs when revenues equal or exceed total expenditures.

A budget surplus is when revenues exceed spending.#

• B2G, or business to government, is the provision of goods and services to government agencies at the federal, state, and local levels.

• The crowding-out effect suggests that an increase in public sector spending leads to a decrease in private sector spending.

• A spending deficit occurs when government spending exceeds its revenues.