Understanding Debt vs. Deficit

Boring video that outlines the difference between deficit and debt. Mostly made to refer people to so that they can understand the difference between the two.

I've debated with a handful (sparse minority but they exist) that make financial videos and think debt and deficit are the same thing. Instead of going on and on and explaining the difference (which would be a part time job considering the pride and stubbornness of some of these idiots), I just made a video to refer them to when it comes up.

Category:

Education

Tags:

• economics
• debt
• deficit
• economy
• recession
• depression
• bull
• bear
• market
• politics

[mapleleaf11]

this video is mistake; when u buy 40k car and u save 4k per month ;that is deficit calculated anually 4*12 this mean there is no deficit but surplus. debt and deficit issues are related to govenment ,firms. u make 50k per Year and u spend 60k u have a deficit of 10 k after a year.next year u make 40 k and spend 45k and ur deficit is 5k and ur debt is now 15k

[malignantpoodle]

"when u buy 40k car and u save 4k per month"

Spoken just like a spenthrifty housewife. If you buy something worth $40k you aren't SAVING anything. And debt vs. deficit is not just govt. spending. That has to do with everything from international trade right down to home finances.

Watch and learn from the video. I know what I'm talking about.

[myp410up]

Very informative and clearly explained. It's a complex topic and I make my life less stressful by paying cash for everything. Our nation needs to lose the buy now pay later mentality and return to traditional values of responsible personal finance, thrift and common sense. Our government needs to set the example by prudent use of tax revenues, but I won't hold my breath on that one. In NYC, Bloomberg plans to tak shopping bags, for crying out loud.

[malignantpoodle]

I agree with you, all the way.

[FSAthe1st]

@shanedk "This video of his is just a childish rant to try and discredit me-"

Dunning and Kruger would have a field day with this one... Not even worth the effort to try and "discredit".

And I know you censor yourself... I still have screencaps of the comments you deleted from our last exchange.

You're a disgusting liar and a fraud. Go play Messiah to your followers and leave sane people alone.

[FSAthe1st]

@shanedk "I never, ever, EVER equated deficit with debt, and I NEVER EVER used the terms in any way contrary to how the GAO uses them."

Given that you accused someone of being butt-buddies while banning people for pointing out you and Virgil were in a mental masturbatory exercise of congratulating each other on their intelligence to make yourselves look smart, I think we'll let other people be the judge of whether this is truthful or not.

[FSAthe1st]

@shanedk 3 years on YouTube and you're still lying through your teeth. No surprise there.

By the way... I find it especially hypocritical you've "banned" me for "homophobia" on your channel when you've committed, by the exact same standard, homophobic bigotry on the League of Reason.

I'd love it if you denied it. Please do. It'll give me more evidence for your dishonesty.

[Nightmare060]

I know almost nothing about economics, but this video was very clear so I could understand it all. Good job :).

[malignantpoodle]

...and it looks like you did. Censoring like a creationist making a shaky argument.