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What Is the Difference Between the Deficit and the Debt

question 120

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What is the difference between the deficit and the debt?


Definitions:

Middle-income Recipients

Individuals or families whose income level falls in the middle range of the socioeconomic spectrum in their society.

Workforce

The total number of people employed or seeking employment in a country or specific sector.

Payroll Tax Payments

Payments made based on wages and salaries to fund social security, healthcare, and other government benefits.

Social Security Retirement System

A government program that provides retirement, disability, and survivors benefits, funded by payroll taxes.

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