DEFINITIONS

Definitions that will help you get through this election year.

The words deficit and debt are not the same with regard to the federal government.  BHO is proud that our deficit is low and has been for the last couple of years.  Republicans smash BHO because the debt is high.  What's the deal?

The national deficit is the amount of money that we are short in one fiscal year.  Deficit refers to the difference between what the government brings in and what it spends.  BHO is right.  The national deficit is lower the last few years.  Ever since the Republicans took control of the Congress, the national deficit is low.  John Boehner's fights with BHO resulted in the government spending less in relation to what it brings in.  That didn't happen when Nancy Pelosi ran the House of Representatives. The Deficits were huge.

The national debt is the total amount of money the government owes.  The Republicans are right. This amount is enormous.  It's a burden that is growing every day.  Like all money that we owe, we will have to pay it back - some day.  To whom do we owe this money?  Our Citizens - Our Banks - Other Countries.  BHO should be ashamed.
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