The national debt is the money that the government owes to creditors. It is the total of all the annual deficits. The deficits are the difference between what the government spends and what it receives in revenue. The revenue comes from taxes, fees, and other sources. The government spends money on things like defense, education, and infrastructure. The national debt is different from the deficit. The deficit is the annual amount that the government borrows to cover the difference between what it spends and what it receives in revenue. The national debt is the total amount of money the ...Read more
