Quote:
Originally Posted by Frosty
Some people say Clinton's BUDGET deficit was low and others say our NATIONAL deficit was low. Can your clarify? So which is it? There's a big difference between the two.
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National debt is the total amount of money owed by the government. Budget deficit is the annual amount of money that spending exceeds revenue. In both cases, Clinton reduced the national debt to its lowest since the Civil War, erasing all budget deficits for nearly 150 years, and Bush not only put them all back on, but added more than at any point in history.