The deficit refers to the difference, in a single year, between government receipts and spending. Those deficits become the national debt when they are added together. They're tied to each other, but they're different.Deficit spending is sometimes viewed as temporary but necessary. For the government, that might be true if it needs to spend money to fight a war. For a person, it might be true if he or she wants to take out a loan to buy a car.
But over time, running large annual deficits is a bad thing, for the government and for the average person. Here's why: think of the government's annual deficit spending like a person using a credit card to spend above his or her means. If that type of spending continues year after year, the interest on the credit card builds up. The minimum payments become larger and larger. Eventually, the charges become so unwieldy that the card holder can't pay them off without making big sacrifices (say, selling the house and the car) or declaring bankruptcy.
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