The Only Way to Stop the Growth of the National

question 78

True/False

The only way to stop the growth of the national debt is to eliminate the budget deficits that create debt.
A balanced annual budget is the first step in debt reduction.To reduce the debt there must be a budget surplus where tax revenue exceeds government spending.

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Definitions:

Postage Stamps

Small pieces of paper issued by a government or an official postal administration, denoted with a specified value, and used to pay for the shipment of mail.

Certificates of Deposit

Time-bound deposit accounts offered by banks that pay interest and have a fixed maturity date.

Money Market Funds

Investment funds that invest in short-term debt securities, providing investors with high liquidity and minimal risk.

Remittance Advice

A document sent by a customer to a business, indicating that an invoice has been paid, often accompanying the payment.