Deficit: The deficit refers to the amount by which spending exceeds revenue in a given year. It contributes to the national debt because if there is a deficit, the government needs to borrow money to cover its expenses.
Fiscal Responsibility: Fiscal responsibility means making wise decisions regarding government spending and taxation in order to maintain sustainable public finances.
Interest Payments: Interest payments are the amounts paid by the government on its outstanding debts. These payments can become substantial as the national debt grows, putting pressure on future politicians to allocate funds for interest rather than other priorities.