What is the difference between a deductive and an inductive argument?

The difference here is that an inductive argument takes
one specific case and uses it to make a general argument that is supposed to apply more
broadly.  By contrast, a deductive argument takes one or more known facts or ideas and
applies them to the case at hand.

For example, an inductive
argument might go like this: World War II started while a Democratic president was in
office.  Therefore, we can see that having a Democratic president leads to war. 
(Reasoning from a specific incident to a general
conclusion.)

By contrast, a deductive argument would say,
for example: the party of the sitting president generally loses seats in Congress at the
midterm election.  Therefore, it is likely that the Democrats will lose seats in this
midterm election.  (Reasoining from a broader concept to a specific
case.)