The Deficit and the Debt
This video presents the same text shown beside it, spoken and on screen. It adds nothing the text does not say.
State
The deficit is the annual amount by which expenditures exceed revenues; the debt is the total the government owes across all years.
Show
Each year's deficit is a new layer; the debt is the whole stack.
Watch for
The budget balanced only briefly, from 1998 to 2000 — deficit is the usual state.