Q:

What is The difference between deficit and debt

Answer

National debt is net accumulated borrowing by the federal government. Deficit is the amount federal government borrows each year.

Categorized In: Definitions , Finance & Economy

Source: "Debt?" "Deficit?" What's the difference? | www.afn.org

Description: The national debt... ...is the net accumulated borrowing by the federal government.

Nov 05, 12:07am

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More ChaCha Answers (1)

A deficit is a lack or shortage; deficiency. A debit is to charge with a debt or an entry of debt in an account. Thanks!