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U.S. National Deficit

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Title: U.S. National Deficit
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Subject: Business
Date: May 21, 1998
Length: 6 / 1680
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The public debt is the amount of money the government borrows from the public, either through taxes or securities. The debt the government owes itself is in the form of special programs, such as Social Security, or spending in specific areas like veterans...
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There are also two types of government expenses. First, there is discretionary, which the government sets a limit for. Then, there is mandatory, where the government determines who meets the eligibility for benefits. The national debt began in 1790 with war debts from the Revolutionary War...
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