Treasury bills, notes, bonds, and other debt obligations that constitute the debt owed by the federal government. Bloomberg Financial Dictionary
* * *
* * *
The total indebtedness of a government resulting from cumulative net budget deficits. National debt is normally financed by the sale of government securities and debt instruments.
* * *
national debt UK US noun [S] (also national deficit, also US public debt, also US public deficit) ECONOMICS
► the total amount that is owed by a country's government because it has spent more than it has taken in taxes, etc.: »
The national debt is now equivalent to the country's annual GDP.
cut/pay down/reduce the national debt »The Finance Ministry aims to pay down the national debt by selling its stake in the energy industry.
Financial and business terms. 2012.