What is the difference between the national debt and the deficit

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Addison Swanson

7 November, 10:35

What is the difference between the national debt and the deficit

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Sabine · Answer 1

In simple terms, a budget deficit is the difference between what the federal government spends (called outlays) and what it takes in (called revenue or receipts). The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.

Alexandria Cobb · Answer 2

In simple terms, a budget deficit is the difference between what thefederal government spends (called outlays) and what it takes in (called revenue or receipts). The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.