Home / News / U.S. Economy 101: national debt vs. national deficit | Just The FAQs

U.S. Economy 101: national debt vs. national deficit | Just The FAQs



The U.S. national debt and deficit have become buzzwords for the 2020 election. But what’s the difference?
RELATED: https://www.youtube.com/watch?v=k3aLZfCUXts

WASHINGTON – Donald Trump promised during his campaign that if he won the White House, he would wipe out the national debt in just eight years.

But in his first 2½ years in office, he has gone in the opposite direction.

President Trump Friday signed into law a budget bill hammered out with leaders of the Democratic-led House and the Republican-controlled Senate. It was a rare bipartisan agreement but some in the GOP were furious over the increase in spending.

The legislation will add an estimated $1.7 trillion to the national debt over the next decade, according to an analysis by the nonpartisan Committee for a Responsible Federal Budget.

That’s not all: When other bills that Trump has signed are factored in, Trump’s total contribution to the national debt is projected to top $4.1 trillion, the budget watchdog group said.

» Subscribe to USA TODAY: http://bit.ly/1xa3XAh
» Watch more on this and other topics from USA TODAY: https://www.youtube.com/playlist?list=PLlvHlI3rc2tPuBC9PBwXStBbcZW0GRAUC
» USA TODAY delivers current local and national news, sports, entertainment, finance, technology, and more through award-winning journalism, photos, videos and VR.

#NationalDeficit #NationalDebt #Economy101

source

About approid

Check Also

Opposites attract in this unlikely doggy duo | Animalkind

Tiny Tim hopped from one dog to the next until he found the friend that …

10 comments

  1. “When you hit $24 trillion, and we’re going to be there very soon, because it’s building up very quickly . . . when we hit that $24 trillion number, we become Greece on steroids,” Donald Trump said in August 2015. “I mean, we have a lot of problems in this country.”

    So by the end of 2020 those numbers will be hit..

  2. Who FRIKKIN cares about the debt, WE will NEVER pay it OFF … NEVER!!! Trump has just as much RIGHT to increase the national debt by 1 Trillion Dollars every YEAR … JUST LIKE Obama did… IT's ONLY FAIR to HIS administration not be denied the MONEY.

  3. Who FRIKKIN cares about the debt, WE will NEVER pay it OFF … NEVER!!! Trump has just as much RIGHT to increase the national debt by 1 Trillion Dollars every YEAR … JUST LIKE Obama did… IT's ONLY FAIR to HIS administration not be denied the MONEY.

  4. Start to actually tax the rich and corporations their fare share! That would help bring the deficit down.

  5. Also running on a deficit just means you're adding to the debt. How about u just say that and propose a solution… Like not paying for health care for eveyone or the dumb idea of free college

  6. We have a massive deficit and debt problem for this country! It's just unfortunate too many uneducated Americans want more social programs rather than living within our means. You don't prosper by spending more than you bring in.

  7. Wow is this video made for morons because every American over the age of 15 should know this

  8. Social Security is NOT an entitlement. Get rid of useless entitlements, now, to shrink the deficit. There are no means to tax an economy into prosperity.

  9. After 2029, I honestly don't see how this is going to work. I saw a report where economist predicted it will be between 1.5-2 trillion annually, adding to a massive pile of debt already accumulated.
    I either don't understand it, or I do and the US will be in trouble starting in 2030.

  10. Our Gross national product is perversion of every kind , mental illness , and psycho killers thanks to over regulation , over restriction and ridiculous over policing on every level ! To bad we can't export that we would end our debt and be the richest country on earth !

Leave a Reply

Your email address will not be published. Required fields are marked *