Primer: the difference between deficits and debts

NPR – Real | Windows | MP3

Both Republicans and Democrats say they want to cut the government's budget deficit and say Americans should be worried about the national debt. Budget expert Joe Minarik of the Committee for Economic Development has met with members of Congress, who are cloudy on the difference between debts and deficits. Minarik explains the differences to Steve Inskeep and why they matter.