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Above you see a graph illustrating the rate of growth the national debt has experienced in recent time.

Q: What is the difference between the Debt and the Deficit?1

A: The National Debt is the total amount of money owed by the government; the federal budget deficit is the yearly amount by which spending exceeds revenue. Add up all the deficits (and those few budget surpluses we've had) for the past 200+ years and you'll get the current National Debt.

1This question and answer is from Ed Hall’s national debt clock web site at http://www.brillig.com/debt_clock/faq.html