MSNBC MSNBC Reports June 4, 2024 15:28:00
Deficit, what that measures is what is the government spending versus the revenue that it takes in. expenditures would be on things like defense spending, welfare programs, infrastructure, all the things that we pay attention to. the revenue side of things is the tax revenue that comes in from what the irs collects. if you're collecting more than you're paying, that's a surplus. but if you're spending more than you have coming in, that's a deficit. we haven't had a surplus since 2001. what the debt means, again, not deficit, but debt is especially the accumulation of every year that you have a...