national-debt

national debt

noun
the financial obligations of a national government resulting from deficit spending.
Also called public debt.


Origin:
1775–85, Americanism

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World English Dictionary
national debt
 
n
Also called (esp US): public debt the total outstanding borrowings of a nation's central government

Collins English Dictionary - Complete & Unabridged 10th Edition
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American Heritage
Cultural Dictionary

national debt definition


The debt of the government; the amount of borrowing by the government to meet expenditures exceeding tax revenues.

Note: A large national debt can inhibit growth and drive up interest rates.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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