Debt is how much you owe, like how much your credit card balance is.
Deficit is how much you're borrowing/losing/hemorrhaging in a given time, like how much your credit card balance increases in a year.
Cutting the deficit by 1 trillion dollars would save TEN TRILLION DOLLARS in ten years.
I guess, technically, the summary could be valid if we're talking about a ten-year budget, but the national budget is something that's settled upon on an annual basis. Cutting the deficit by "an average of 100 billion dollars per year" would be more accurate.
Just because you can grow it, doesn't mean anyone actually wants to buy it.
But that's just the case with corn. There's been so much of it, and it's so darn cheap to grow, that people figured "well, crap, we have all this corn, let's figure out something else to do with it!" and thus the prevalence of high fructose corn syrup, and of using corn as the primary feed for a bunch of animals that had previously eaten grasses and such. Hell, I recall hearing they're feeding corn to FISH now.
The Shuttle is now going five times the sound of speed. -- Dan Rather, first landing of Columbia