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To: Shanghai Dan

In federal lingo, “deficit” is current fiscal year revenues minus current fiscal year expenses. “debt” is the sum over all fiscal years.

It sounds like what you’re talking about is “interest on the debt.”


15 posted on 07/14/2016 5:27:12 PM PDT by scrabblehack
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To: scrabblehack

Well, I’m looking at the increase in the debt. And to the best of my knowledge, the only way debt can increase is if your expenses outweigh your revenue.

The “Federal Deficit” is just the “on-budget” items which do not include Social Security, or the Post Office, or several other Federal spending programs that have been decreed to be “off budget”.

But when you take revenue and subtract expenses, the shortfall of revenue becomes debt - we sell bonds to cover it. And that’s gone up by $1.2 trillion so far this year.


16 posted on 07/15/2016 12:34:57 AM PDT by Shanghai Dan
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