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View Diary: You can't borrow your way out of debt- what? (44 comments)

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  •  think you have them backwards (2+ / 0-)
    I need a clear definition of the difference between "debt" and "deficit. I suspect debt is annual and deficit is long term, but I need help as the terms are tossed about so much and in same/different context.
    Actually it is the other way around. Debt is the long term amount owed that goes up and down each month/year etc. as a result of the deficit or surplus for that time period.
    •  Thank you both, it makes sense to me. (0+ / 0-)

      Science is hell bent on consensus. Dr. Michael Crichton said “Let’s be clear: The work of science has nothing to do with consensus... which is the business of politics. Science, on the contrary, requires only one investigator who happens to be right,”

      by Regina in a Sears Kit House on Sun May 12, 2013 at 05:23:07 PM PDT

      [ Parent ]

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