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national debt

the financial obligations of a national government resulting from deficit spending.
Also called public debt.
Origin of national debt
An Americanism dating back to 1775-85 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2018.
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British Dictionary definitions for national debt

national debt

the total outstanding borrowings of a nation's central government Also called (esp US) public debt
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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national debt in Culture

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 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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