ANSWER NEEDED ASAP MULTIPLE CHOICEWhat's the difference between the federal deficit and the national debt?(A) Th federal deficit is the amount of money owed to the government by individual taxpayers, and the national debt is the amount of money owed to the government by other countries.(B) The federal deficit refers to the gap between what the government earns and spends in a year, while the national debt is the total cumulative amount of money the government owes.(C) The federal deficit refers to a situation in which the government brings in more than it spends, and the national debt refers to a situation in which the government spends more than is earns.(D) The federal deficit is the total amount of money the government owes, and the national debt is the amount the country overspent in the last fiscal year.

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hoppe.karine · Accepted Answer

B-The federal deficit tells you how much more money the government spent in a single year than it received in revenue. The national debt, on the other hand, is the cumulative amount of money that the federal government has borrowed to make up for all those deficits in previous years. Source: https://www.nytimes.com/2017/01/11/insider/whats-the-difference-between-the-national-debt-and-the-federal-deficit.amp.html

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