00:01
Hey, guys, and welcome to another economics example where we're going to be talking some more about, in general, fiscal policy, but more specifically deficits and debt.
00:11
So we're going to look a little bit more into, you know, what national debt is and do budget deficits affect it? so, yes, and put simply because national debt is just your, you know, any annual budget deficits, you've had over a given time period minus budget surpluses that you've had.
00:47
And then also, if your government has made extra payments to lower their debt, then you would also remove that.
01:00
So any extra payments to remove debt.
01:08
So this is how you calculate your national debt.
01:11
So yes, budget deficits are a big part of that...