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national debt |
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national debt: see debt, public debt, public, indebtedness of a central government expressed in money terms, often referred to as national debt. The debt is computed differently by nearly every nation. ..... Click the link for more information. . national debtor public debtTotal indebtedness of a government, especially as evidenced by securities issued to investors. The national debt grows whenever the government operates a budget deficit—that is, when government spending exceeds government revenues in a year. To finance its debt, the government can issue securities such as bonds or treasury bills. The level of national debt varies from country to country, from less than 10% of the gross domestic product (GDP) to more than double it. Public borrowing is thought to have an inflationary effect on the economy and thus is often used during recessions to stimulate consumption, investment, and employment. See also deficit financing; John Maynard Keynes. national debt the total outstanding borrowings of a nation's central government |
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At the man's were a Member, an Engineer, a Payer-off of the National Debt, a Poem on Shakespeare, a Grievance, and a Public Office, who all seem to be utter strangers to Veneering. Immensely rich, sir; and I could, without missing it, pay the national debt of France. It is known, to the force of a single pound weight, what the engine will do; but, not all the calculators of the National Debt can tell me the capacity for good or evil, for love or hatred, for patriotism or discontent, for the decomposition of virtue into vice, or the reverse, at any single moment in the soul of one of these its quiet servants, with the composed faces and the regulated actions. |
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