Quote:
Originally Posted by BoyAlley
No.
National deficit = (yearly revenue - yearly spending)
Don't spend more than you bring in any given year and you have 0 deficit.
National debt = accumulated deficit from year to year to year
The national DEBT will always be increasing to record levels due to inflation and interest assuming we don't do anything to help reduce it. But that's assuming it only increased proportionately with inflation. That's certainly not been the case with this administration though. 
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Yes, I meant National Debt, sorry.
Was the National Debt, as a precentage of GDP not higher when Truman was President than it is now? I vaguely remember reading this, but I'm not sure if it's true.