national debt

American  

noun

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

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national debt British  

noun

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

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national debt Cultural  

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

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

Etymology

Origin of national debt

An Americanism dating back to 1775–85

Example Sentences

This, members of the administration contend, will further its goal of using public lands to fuel the economy and eliminate the national debt.

From Salon

Yet he adds that it won't be "the panacea" that cures an Argentine economy that has long battled high inflation and public spending, and defaulting on its national debt.

From BBC

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

From BBC

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.

From BBC

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.

From BBC