5th - 8th CCSS: Adaptable. Young mathematicians dive into the number line to discover decimals and how the numbers infinitely get smaller in between. They click the zoom button a few times and learn that the number line doesn't just stop at integers. Includes a...
It is clear that the difference between gross and net debt is very large for some countries. While Japan looks like an outlier in terms of gross debt, it is close to Italy and Greece when it comes to net debt.
The deficit is the difference between the money Government takes in, called receipts, and what the Government spends, called outlays, each year. Receipts include the money the Government takes in from income, excise and social insurance taxes as well as fees and other income. Outlays include all Federal spending including social security and Medicare benefits along with all other spending ranging from medical research to interest payments on the debt.