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What is the difference between the National debt and the budget deficit?
Budget deficit is how much we spend per year over what we take in from taxes. National debt is the total amount the nation owes (the deficits added together).
What is the deficit always than the public debt?
The deficit is always smaller than the public debt.
Was national debt ever been fully paid off?
Yes, several times. Most recently, President Clinton was able to balance the budget in his administration, despite having inherited a deficit from President George H.W. Bush. It was not several times and Clinton didn't do it. In fact the national debt was $5,727,776,738,304.64 when Clinton left office. Clinton left office with about a $1.5 trillion increase to the national debt. The only time the national debt has been paid off was in 1835 under President Andrew Jackson.
What is the difference between deficit and public dept?
The annual deficit is the amount of money the government is losing every year: basically, how much it spends beyond what it makes. The national debt is the sum of all the annual deficits combined.
What is the difference between debt and deficit?
Debt is the total amount of money that a country (or company) owes. Deficit is the amount that a country (or company) loses each year.
