national debt

noun

1. the financial obligations of a national government resulting from deficit spending.

national debt

noun

1. Also called (esp US): public debt. the total outstanding borrowings of a nation's central government

national debt

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

A large national debt can inhibit growth and drive up interest rates.

Word History and Origins

Origin of national debt¹

An Americanism dating back to 1775–85

Example Sentences

Other priorities set out by the chancellor include reducing NHS waiting lists and the national debt.

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The UK's national debt currently stands at just under 100% of UK GDP, which is the value of all the goods and services produced by the economy in a year.

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Reeves is expected to increase some taxes in the Budget after saying she means to bring down NHS waiting lists, the national debt and the cost of living.

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Chief Secretary to the Treasury James Murray said at the moment £1 of every £10 in taxpayer money was spent on interest on national debt.

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They added the UK government "will continue to build ... on the priorities of the British people - cutting waiting lists, cutting national debt and cutting the cost of living."

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