Where does the U.S. national debt come from?
The National Debt is the total amount of money owed by the government; the federal budget deficit is the yearly amount by which spending exceeds revenue. Add up all the deficits (and subtract those few budget surpluses we’ve had) for the past 200+ years and you’ll get the current National Debt. Politicians love to crow “The deficit is down! The deficit is down!” like it’s a great accomplishment. Don’t be fooled. Reducing the deficit just means we’re adding less to the Debt this year than we did last year. Big deal — we’re still adding to the Debt. When are we going to start seeing the Debt actually go down? This comes from some simple research about the debt clock which gets its info from the National Treasury.
