Economics explained: the deficit and the debt - video

Deficit is a word that has haunted western economies since the financial crisis of 2008, but what is it? Why does it get so often confused with debt? And how important is it to the running of an economy? Economists still argue over how best to eliminate it - either by stimulus or by austerity, but one thing is certain: the deficit is set to dominate economic and political discussion for years to come