# What's the difference between US Debt and US Deficit?

**URL:** <https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504>\
**Category:** Factual Questions\
**Created:** [July 10, 2011, 1:44pm UTC](https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504 "2011-07-10T13:44:16Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![George\_Kaplin](https://avatars.discourse-cdn.com/v4/letter/g/3e96dc/32.png) [@George\_Kaplin](https://boards.straightdope.com/u/George_Kaplin)\
**Post date:** [July 10, 2011, 1:44pm UTC](https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504/1 "2011-07-10T13:44:16Z")

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I’ve tried wikipedia but it’s too in depth and complicated for me. I’m an economic retard and need this broken down into bitty little baby steps. Any help would be gratefully appreciated. Maximum 3 syllable word limit. Cheers 🙂

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**Author:** ![Rysto](https://avatars.discourse-cdn.com/v4/letter/r/ecccb3/32.png) [@Rysto](https://boards.straightdope.com/u/Rysto)\
**Post date:** [July 10, 2011, 1:51pm UTC](https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504/2 "2011-07-10T13:51:33Z")

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The deficit is the difference between the amount of revenue the government takes in and the amount that the government spends in a single year.

The debt is the same as the debt owed by any other person. It’s the accumulation of several, several years worth of deficits.

For example, if you make $40K in a year but spend $50K, you have a deficit of $10K(which you finance with $10K of debt). Do that for 10 consecutive years, and in the final year your deficit is still $10K, but you’ve racked up a debt of $100K, plus interest.

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**Author:** ![Bloodless\_Turnip](https://avatars.discourse-cdn.com/v4/letter/b/82dd89/32.png) [@Bloodless\_Turnip](https://boards.straightdope.com/u/Bloodless_Turnip)\
**Post date:** [July 10, 2011, 1:54pm UTC](https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504/3 "2011-07-10T13:54:03Z")

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[US Debt Clock](http://www.usdebtclock.org/)

Just thought it was interesting.

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**Author:** ![George\_Kaplin](https://avatars.discourse-cdn.com/v4/letter/g/3e96dc/32.png) [@George\_Kaplin](https://boards.straightdope.com/u/George_Kaplin)\
**Post date:** [July 10, 2011, 1:54pm UTC](https://boards.straightdope.com/t/whats-the-difference-between-us-debt-and-us-deficit/588504/4 "2011-07-10T13:54:25Z")

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Ah, great explanation. Thanks 🙂