Bell Book Candle

What do debt, as in national debt, and deficits have in common, besides both beginning with the letters “DE?” I think that many Americans are confused about the difference and the media and the GOP are doing nothing to clarify the difference. If the Federal government spends more than it takes in in revenue, the difference is a deficit and that adds to the national debt, which we owe mostly to ourselves. The only way to reduce the national debt is to take in more revenue than we spend as a nation, run a surplus in other words.

The best way to reduce deficits and thereby reduce the national debt is to stimulate the economy to produce more jobs and thereby more tax revenue. Austerity does not work, just ask the European nations who have tried it since the crash of 2007, England, Ireland, Portugal, Spain, Italy and…

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