3-minute read
US economy 101: National debt vs. national deficit
Not sure about the difference between the national debt and deficit? We explain.
Just the FAQs, USA TODAY
Anyone who runs a small business or manages a family budget knows you can’t spend more than you earn.
The same goes for Uncle Sam.
It’s clear that the current U.S. budget debt and deficit are completely unsustainable; they pose an existential crisis for our country and need to be immediately addressed.
Interest costs eat up our national budget
The U.S. is facing a “death cycle” of growing interest costs eating up our national budget and crowding out available credit for small business. Families and businesses know what it’s like to be on the wrong side of exponentially growing interest costs. That never ends well, and our country is just about there. We need to act quickly to protect our country.
But faced with a…


