Is it an eight trillion dollar deficit or eight trillion in overspending?

Question

Deficit seems to imply we are not playing our fair share. We are real generous handing out money to everyone but we cannot do it forever.

Answer 1

I think you mean an $8 trillion national debt. Many people confuse the terms "debt" and "deficit". "Debt" is the total amount of money owed, while "deficit" is the amount that spending exceeds revenues. For instance, if the debt is $7 trillion and the current year's deficit is $200 billion, just as an example, the total debt at the end of the year would be $7.2 trillion.

In any case, it's far too much. Congressional Democrats haven't believed in cutting spending for about a century, and in the last several years, we've learned that the Republicans on the hill don't seem to either. Let's throw the bums out! Who will stand for lower spending and limited government?

Answer 2

You have 2 terms, debt, and deficit, which mean different things.

The national debt is the total amount of money that this country owes. The deficit is how much in the red Congress spent us THIS year. So, if you had a budget of 2 trillion dollars, and you spent 2.4 trillion dollars, that would be a 400 billion dollar deficit.

look up 'national debt' on Google for a complete breakdown...

Answer 3

$8t debt = what we have.
$300b deficit = what we have.
$Overspending = what we have.
Republicans (claim fiscal control) = ?

Answer 4

We can make all the money we need

Answer 5

overspending

Answer 6

over spending

Answer 7

america is great, but we are going to fall hard.