Defining the difference between National Debt and the Federal Budget deficit and looking at Gods principle of having to harvest what has grown from what has been sown are the reasons for writing this blog. It has become very tiring to me to hear people say that when Bill Clinton left office the United States had a budget surplus. Through this line of thinking, George W. Bush would be fully responsible for the 9 trillion 986 billion dollar National Debt that the US (thus the American people) had at the end of 2008. This, of course, is not true. Many people do not understand the big difference between National Debt and the Federal Budget deficit (or rarely surplus). 1) The National Debt is the total amount of money owed by the government. 2) The Federal Budget deficit is the yearly amount by which spending exceeds revenue. When you add up…
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