Public debt

(redirected from national debt)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia, Wikipedia.

PUBLIC DEBT. That which is due or owing by the government.
     2. The constitution of the United States provides, art. 6, s. 1, that "all debts contracted or engagements entered into, before the adoption of this constitution, shall be as valid against the United States under this constitution, as under the confederation." It has invariably been the policy since the Revolution, to do justice to the creditors of the government. The public debt has sometimes been swelled to a large amount, and at other times it has been reduced to almost nothing.

References in periodicals archive ?
The mission of End the Debt is to eradicate the national debt issue by establishing a well-designed, sovereign, debt-free currency -- a currency free from the control, ownership, usury, inflation and distribution of bankers.
The first is the amount by which expenditure by the state exceeds its revenue over a year, while the national debt is the accumulation of budget deficits.
We are in fact the single largest creditor this nation's government has, at over 50% of the national debt.
Economy Minister Ali Tayeb-nia told the Fars news agency some details about the national debt last week.
This represents good value for the taxpayer and the money will be used to reduce the national debt.
Surplus cash-per-barrel could, therefore, be used to drive down the national debt before it reaches an "unsustainable" 60 per cent, he told the GDN.
While the mystery fund has grown by up to [pounds sterling]10m a year, the parlous state of the nation's finances means national debt exceeds [pounds sterling]121bn, meaning the fund must stand untouched.
Conservative Treasury minister Sajid Javid said: "Members of the public wishing to make donations for the purpose of reducing national debt can contact the [Debt management Office] by phone, email, or in writing.
The Moody's credit rating agency said back in February that the British national debt is expected to soar to 96 percent of the GDP from 70 percent of the GDP by 2016.
THE Irish national debt has increased by more than five times in 27 years.
WHITE HOUSE BURNING: THE FOUNDING FATHERS, OUR NATIONAL DEBT, AND WHY IT MATTERS TO YOU charts an America mired in debt, fighting over deficits, taxes and spending choices, and how gridlock has halted the government.
This anxiety is readily transferred to national debt -- debt owed by a government to its creditors.

Full browser ?