Answered

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What is the difference between the National Debt and a Budget Deficit?
The national debt is a running total of money spent by the government and the
budget deficit is expenditures minus the income the government receives for
one fiscal year.
The national debt is the amount of money the government borrows for one
fiscal year, the budget deficit is all of the money that the federal government
owes.
The national debt is all the money that is owed by bondholders to Congress and
budget deficit is all the money that has been spent by a particular President in a
given year.
The national debt is all of the money that the federal government owes, the
budget deficit is the amount of money the government borrows for one fiscal
year.

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