Government debt
Definition
The total outstanding borrowings of a national, state, or local government from creditors, typically financed through issuing bonds, loans, or other debt instruments to cover budget deficits.
Also known as public debt or sovereign debt, it represents the cumulative amount a government owes, often measured as a percentage of GDP to gauge economic sustainability.
Examples
With government debt now topping $39 trillion, our leaders deserve a round of applause for their visionary approach to fiscal acrobatics.
Thanks to strategic borrowing, government debt has gifted Americans a cool $900 billion annual interest bill – the ultimate subscription service.
Congress's handling of government debt is like a bad sequel: bigger numbers, more drama, and no resolution in sight.
Government debt hit $38.86 trillion last month alone, proving once again that when it comes to spending, our politicians are truly unlimited.