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national debt- total amount of money the federal government has arrowed and has yet to pay back. the national debt is how much the economy//government//we owe back. yet will still be paid.

federal deficit- a short fall between the amount of revenue the government takes in and the amount it spends. federal deficit will not be paid back. but the amount of money the economy//government//we owe. they will never see the money because it just keeps getting spent.

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15y ago

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