Federal deficit and national debt in the economy

Consequences of a rising federal deficit and national debt in the economy ?Should we be concerned about the sizes (and projected increases) of the deficit and debt? Why or why not?Who exactly do we owe this money to, and does this make a difference in terms of our level of concern?What are the actions needs to be taken by the government to reduce the deficit number. how the numbers would be reduced, and if the government actually should use these methods of deficit reduction.

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