What is the difference between National Debt and Budget Deficit?
Question by Gene Splice: What is the difference between National Debt and Budget Deficit?
I know, but I would like to see some answers from people who say Clinton gave us a budget surplus and neglect the fact that he added 1.6 trillion to the national debt.
Best answer:
Answer by John Doe
But but but…
Give your answer to this question below!
National debt collects interests.
Since you know – short answer – deficit one year, debt accumulation of all prior deficits net of any surplus.
To the nonsensical G0P spin on Clinton:
http://cedarcomm.com/~stevelm1/USDebt.png
Reality check: Clinton had us going in the right direction – then along came Bush and the G0P.
The national debt is the total amount of money that the country owes in debt, and the deficit is the amount of money the country is adding to our national debt in a given year. People often make the fallacious argument that under Clinton we had a surplus and he balanced the budget, however it is misleading, because ultimately he did add $ 1.6 trillion to the national debt, and only balanced the budget for 2 out of the 8 years he was president. It is just another liberal talking point that is commonly used to distort the reality.
the national debt is the accumulation of budget deficits(July 4th, 1776-march 10, 2011). National is the grand sum…and the budget deficit is a yearly one. The reason why Clinton ever had a balanced budget is because the republicans controlled the house.
If the earning minus spending for the year is a positive number you have surplus.
The Debt is the total owed. Clinton had a budget surplus. No Republican President in the last 50 years had a budget surplus. And that is a fact.
http://www.factcheck.org/askfactcheck/print_during_the_clinton_administration_was_the_federal.html
National debt is the overall debt of the country, the USA’s national debt hasn’t been paid off since 1836. A budget deficit is the loss due to government overspending on a yearly basis. Indeed the last year of Clinton’s presidency we had a projected budget surplus that was undone by the next president through giving tax cuts and thus cutting revenue that would otherwise have been used to pay for things we borrowed money to, either from ourselves or foreign nations.