Answer:
The sum of all of the yearly deficits is known as debt.
Step-by-step explanation:
In business, debt can be described as all the money that has been borrowed by a person. National debt can be described as all the debt that is borrowed by the federal government.
Sum of all previous deficits, with addition to any borrowing or surpluses in the future, makes up the debt. It is a reflection of how much money has been borrowed and how much money in total a person or a government has to return.