Statement I: The federal budget deficit is the same thing as the national debt.
Statement II: The national debt will continue to rise even if the federal budget deficit is lowered.

Question

Quizplus · Accepted Answer

Statement I is false as the federal budget deficit is the difference between the government’s revenue and expenses in a given year, whereas the national debt is the total amount of money owed by the government. Thus, they are not the same thing. 
Statement II is true as even if the federal budget deficit is lowered, the government will still need to borrow money to pay for its expenses, and hence, the national debt will continue to rise.

Statement I: the Federal Budget Deficit Is the Same Thing