|FROM ||Ruben Safir
|SUBJECT ||Re: [Hangout of NYLXS] deficit is how much you spend in one year
|From hangout-bounces-at-nylxs.com Mon May 22 22:01:09 2017
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From: Ruben Safir
Date: Mon, 22 May 2017 22:00:46 -0400
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Subject: Re: [Hangout of NYLXS] deficit is how much you spend in one year
beyond what you have in income that ONE year,
e.g. how much credit you use because you are spending beyond your means.
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On 05/22/2017 09:30 AM, Mancini, Sabin (DFS) wrote:
> The deficit is how much you spend in one year beyond what you have in income that ONE year, i.e. how much credit you use because you are spending beyond your means.
> The debt is the total of all the deficits you've been accumulating over multiple years.
No the dept and deficit are entirely different things. At the end of
the budget there is ZERO deficit.
Not only that but the government doesn't have to borrow to close the
deficit. That can print money...
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