These terms are often used interchangeably by the press and laymen. The deficit is the amount of government spending greater than taxes in a fiscal period. The debt is the total of all deficits.
Saturday, January 21, 2012
Daily Review -- Who Owns the Debt
These terms are often used interchangeably by the press and laymen. The deficit is the amount of government spending greater than taxes in a fiscal period. The debt is the total of all deficits.
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