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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (488531)11/6/2003 7:57:49 PM
From: Kenneth E. Phillipps  Read Replies (2) | Respond to of 769670
 
Bill, it's not my story. It's from the US Treasury.



To: Bill who wrote (488531)11/6/2003 7:59:26 PM
From: jackhach  Read Replies (1) | Respond to of 769670
 
First off BILL -- you need to understand the DIFFERENCE between a NATIONAL DEBT and a BUDGETARY DEBT. One is ongoing, long term which accumulates/decreases over time (i.e., 30 year bonds etc...)

The other is momentary (annual) -- just like your household. Such that if you run a deficit you either have to plow that into your next year's budget (often impossible) or borrow to pay it therefore adding to your long term debt (national).

Message 19474724


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