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Difference Between Federal Debt And Federal Deficit

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Federal deficits is when the government borrows from the public. It is money being spend than what is coming in. For Example, paying your light bill on your credit card monthly. Your monthly income is 1000 but your bill is 1250 monthly. You have to borrow cash like using your credit card to make the different. The federal debt is the sum of the debt held by the public. This money borrowed from regular people like you and you and other from foreign.
Federal debt is the amount of all past shortages, minus the amount the federal government has since repaid.
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