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Federal deficit is when government spending outpaces revenue, or income from taxes. National debt is the amount of money borrowed from a country's government. The difference is that debt indicates the amount of money the government owes and that government revenue and spending is what the main factor is. According itsuptous.org, main consequences of national debt include decreased savings and income, higher interest costs and a lack of flexibility. We as a society should be concerned about these increasing sizes of deficit and debt because it could potentially disrupt the current economic state. We as a society owe this money to forein investors and the government and it should be of a large level of significance. The government would highly benefit by reducing deficit and debt numbers by decreasing foreign investors and giving society a larger amount of support and time to pay off these taxes and costs.

Discussion 2

Federal deficit is when government spending outpaces revenue, or income from taxes. National debt is the amount of money borrowed from a country's government. The difference is that debt indicates the amount of money the government owes and that government revenue and spending is what the main factor is. According itsuptous.org, main consequences of national debt include decreased savings and income, higher interest costs and a lack of flexibility. We as a society should be concerned about these increasing sizes of deficit and debt because it could potentially disrupt the current economic state. We as a society owe this money to forein investors and the government and it should be of a large level of significance. The government would highly benefit by reducing deficit and debt numbers by decreasing foreign investors and giving society a larger amount of support and time to pay off these taxes and costs.