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CDBZ Archive
The Collapse of American Power - Printable Version

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The Collapse of American Power - Pink Underoo - 03-21-2008

National debt (debts from all levels of government) and the federal deficit (federal-level debt only) are two different things. iirc, the federal deficit became a surplus but the national debt was merely being payed down. I'm no econ major and I wasn't really into politics when this was going on at the turn of the millennium, so I could be wrong on some point.