Sunday, April 3, 2011

War in Iraq Contribute to National Deficit?

In what ways does the war in Iraq contribute to the national deficit?

  • It meant spending money we did not have. You need to understand the difference between the deficit and the national debt. these are two different things. The "deficit" refers to the shortfall in the budget in a given year, the difference between the revenues and expenditures when expenditures exceed revenues. The national debt is the cumulative total of all unpaid and outstanding deficits of prior years.

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