DEBT AND DEFICIT

THIS IS FOR ALL THE JOEY D GROUPIES WHO ARE IN DENIAL ABOUT HOW BAD THE TOWNSHIP IS ON THIS ISSUE.

debt noun

\ˈdet \

Definition of debt

1 : SIN, TRESPASS

Forgive us our debts.

2 : something owed : OBLIGATION

unable to pay off his debts

owe them a debt of gratitude

a criminal's debt to society

3 : a state of being under obligation to pay or repay someone or something in return for something received : a state of owing

deeply in debt to creditors

4 law, business : the common-law action for the recovery of money held to be due

deficit noun

def·​i·​cit | \ˈde-fə-sət, British also di-ˈfis-ət or ˈdē-fə-sət\

Definition of deficit

1a(1) : deficiency in amount or quality

a deficit in rainfall

(2) : a lack or impairment in an ability or functional capacity

cognitive deficits

a hearing deficit

b : DISADVANTAGE

scored two runs to overcome a 2–1 deficit

2a : an excess of expenditure over revenue

facing a deficit of $3 billion

raise taxes to help reduce the budget deficit

b : a loss (see LOSS sense 4b) in business operations

the year's operating deficit

NOTICE HOW SERIOUS THE DEFINITION OF DEFICIT IS?? WHILE TECHNICALLY, WE MAY NOT BE IN DEBT, WE ARE EXPERIENCING A HUGE DEFICIT, WHICH MEANS WE ARE NOT MAKING ENOUGH $$$ TO COVER ALL THE SPENDING THIS TOWN AND ITS OFFICIALS ARE DOING. IN SHORT, WE'RE ON A DANGEROUS SPENDING SPREE, WHICH IF NOT STOPPED, WILL PUT US INTO DEBT!!

GET THE PICTURE??