I overheard one dolt saying after the 2012 “reelection” of the disaster from Kenya that Obummer had done such a good job that both the annual deficit AND the national debt were falling. According to my understanding of accounting that is not actually possible. If the deficit is falling that means there has to be an annual deficit or it could not be reduced and if there is an annual deficit how could the debt be falling? If the national debt is falling how can there be a deficit?
The debt is the shortfall of income below expenses each year - the deficit is the accumulating amount owed which increases by however much is not paid for in each year’s budget - the deficit each year gets added to increase the debt which has almost doubled to nineteen trillion dollars under Obama - one bit of dipsey-doodle he pulled was to “borrow” close to a trillion dollars from anticipated Medicare spending to apply to make Obamacare look affordable - so even though Obamacare is turning out to be much more expensive than planned, on paper funds are transferred to the current year’s budget from Medicare to help keep the current deficit down, while the amount borrowed goes on to the debt, which might or probably won’t be paid for sometime in the future - at least that’s sort of how I understand it.....
Sorry - must have been drinking something - got ‘em backwards - deficit is the yearly shortfall - national debt is the accumulating amount - makes a bit more sense now....