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Old March 26th, 2018, 06:14 AM   #1
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Difference between deficit vs debt

A democracy where citizens have little understanding of economics is insane.

I am very sure very few Americans understand the economics of our nation. Maybe you all can prove me wrong about that, and I would be glad to be wrong. What is your understanding of the difference between deficit and debt? Do you think Trump's budget will improve or hurt our economy?

https://www.thebalance.com/deficit-v...conomy-3305779
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Old March 26th, 2018, 06:17 AM   #2
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Trime frame. A deficit is a measure of indebtedness accrued in a fiscal year. The national debt is an accumulation of all of those deficits net any surplus.
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Old March 26th, 2018, 06:58 AM   #3
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What is "net any surplus"?

Are we going into debt for anything the future generations will enjoy? I mean, what won't they have to replaced and how will they pay off the debt and cover their needs? Is there any way this will not collapse the United States given how it effects the value of the dollar?
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Old March 26th, 2018, 07:03 AM   #4
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What is "net any surplus"?

Are we going into debt for anything the future generations will enjoy? I mean, what won't they have to replaced and how will they pay off the debt and cover their needs? Is there any way this will not collapse the United States given how it effects the value of the dollar?
Some years you can have a surplus instead of a deficit. The accumulative effects of both is what is known as the national debt.
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Old March 28th, 2018, 06:09 AM   #5
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Some years you can have a surplus instead of a deficit. The accumulative effects of both is what is known as the national debt.
It is possible to have a surplus? When is the last time that happened? Has it ever happened during a Republican administration? I think Clinton made some progress but that immediately ended. We have raised the amount of debt we will accept so many times, it is pointless having a law that fixes the limit.
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Old March 28th, 2018, 06:21 AM   #6
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Originally Posted by Athena View Post
It is possible to have a surplus? When is the last time that happened? Has it ever happened during a Republican administration? I think Clinton made some progress but that immediately ended. We have raised the amount of debt we will accept so many times, it is pointless having a law that fixes the limit.
You asked for a definition. You did not specify a certain country. I proffered an accurate definition of the difference between a deficit and a debt.
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Old March 28th, 2018, 07:52 AM   #7
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What is your understanding of the difference between deficit and debt?
The deficit is the difference between the annually budgeted amount for spending and the amount that is actually spent when the spent amount exceeds the budgeted amount.

The debt is the amount the nation owes after all preceding deficits have been added up. Deficits are added to the debt annually.

Trump can do nothing BUT hurt the economy. Short-term improvements are part of the downward spiral.
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Old March 28th, 2018, 09:02 AM   #8
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The deficit is the difference between the annually budgeted amount for spending and the amount that is actually spent when the spent amount exceeds the budgeted amount.

The debt is the amount the nation owes after all preceding deficits have been added up. Deficits are added to the debt annually.

Trump can do nothing BUT hurt the economy. Short-term improvements are part of the downward spiral.
I think you worded that very well. I don't always understand what is being said, but I think I actually comprehended what you said.

I do not like your last comment though because it seems so hopeless. Are you saying no president could do better? The thread about the rising cost of gasoline seems to be saying that. I think Carter had the best plan for our future, but the public was poorly informed and gladly accepted Reagan undoing everything Carter achieved and increasing military spending so he and future presidents could use military force to secure our control of oil. When the public is poorly informed, no president can achieve what must be achieved. We demand immediate results and appear to be very short-term thinking, not thinking about what the deficit spending is doing to our national debt and future.
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Old March 28th, 2018, 09:21 AM   #9
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Originally Posted by Kode View Post
The deficit is the difference between the annually budgeted amount for spending and the amount that is actually spent when the spent amount exceeds the budgeted amount.

The debt is the amount the nation owes after all preceding deficits have been added up. Deficits are added to the debt annually.

Trump can do nothing BUT hurt the economy. Short-term improvements are part of the downward spiral.
Your definition of deficit is incorrect. You are not considering revenue.
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Old March 28th, 2018, 10:02 AM   #10
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Originally Posted by Kode View Post
The deficit is the difference between the annually budgeted amount for spending and the amount that is actually spent when the spent amount exceeds the budgeted amount.

The debt is the amount the nation owes after all preceding deficits have been added up. Deficits are added to the debt annually.

Trump can do nothing BUT hurt the economy. Short-term improvements are part of the downward spiral.
That would be true if properly accounted for. But the Federal Government doesn't state the deficit correctly. It treats some debt as income.

Properly accounted for the debt would be the accumulation of annual deficits or surpluses.
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