RINF - A Closer Look At Debt And The Economy
LIZ ANN SONDERS: Today, I want to tackle a more evergreen topic, which is the implications on the economy of a high and ever-rising burden of debt. But I want to first differentiate between the deficit and debt.
Deficit - the budget deficit - is simply the differential between what's going out via spending and coming in via taxes. If you continue to run budget deficits, you add to debt. Debt is a cumulative effect of running deficits.
Now, this is an ongoing debate as to whether there are negative implications of a high and