?PAGE ? ?PAGE ?2? Krisa Cassidy seq NL1 \r 0 \h Chapter 18 Outline SEQ NLI \r 0 \h I?? seq NLA \r 0 \h . INTRODUCTION? seq NLA \r 0 \h Reasons for government debt (THEME A: POLITICS AND ECONOMICS) deficit--The result of when the government in one year spends more money than it takes in from taxes. national debt--The total deficit from the first presidency down to the present. gross domestic product--The total of all goods and services produced in the economy during a given year. seq NL1 \r 0 \h Deficit: Spending more than one earns seq NL_a \r 0 \h Financed by selling government bonds to Americans and foreigners seq NL_a \r 0 \h National debt: Total amount of all deficits seq NL1 \r 0 \h Economic reason for debt seq NL_a \r 0 \h Bonds are always repaid.