national debt
Country's total owed
National debt is the total amount a government owes to its creditors—accumulated over years of borrowing when spending exceeds revenue.
Governments issue bonds and treasury securities to finance this debt, paying interest to holders.
The national debt differs from annual deficits, which add to it each year.
The national debt has grown to trillions of dollars.
Debates over the debt often center on its sustainability and burden on future generations.
Spending exceeding revenue
- fiscal deficitSpending exceeds revenue
- shortfallFailure to reach quota
- overspendingExceeding one's budget
- deficit spendingExpenditures funded by debt
red ink · underfunding · deficit reduction · balanced budget · surplus
State spending and taxation
- monetary policyCentral bank economic controls
- austerityEnforced economic stringency
- spending cutsReducing governmental expenditures
- taxationCompulsory government revenue collection
public spending · entitlements · IMF · bailout · stimulus · quantitative easing · central bank · federal reserve
Government-issued debt securities
- government securitiesState-backed debt instruments
- bond marketVenue for debt securities
- creditorsThose owed payment
- interestAttention, stake, or fee
lender · bondholders · gilt · T-bills · underwriting · refinancing · creditworthiness · yield
Sustained price level increase
- interest ratesPrice paid for borrowing
- macroeconomicsStudy of aggregate economies
- recessionProlonged economic decline
- economic growthSustained output increase
financial stability · currency devaluation · bond yields · liquidity · crowding out · credit downgrade · contagion
Giving back what's owed
- liabilityLegal or financial obligation
- servicingPerforming routine maintenance
- amortizationGradual debt reduction schedule
- arrearsOverdue financial obligations
indebtedness · interest payments · installments · solvency · settlement · due · encumbrance · commitment
Financial self-sufficiency
- conditionalityState of being dependent
- autonomyIndependent decision-making capacity
budget deficit
Spending exceeding revenue
- fiscal deficitSpending exceeds revenue
- shortfallFailure to reach quota
- overspendingExceeding one's budget
deficit spending · red ink · underfunding · deficit reduction · balanced budget · surplus
fiscal policy
State spending and taxation
- monetary policyCentral bank economic controls
- austerityEnforced economic stringency
- spending cutsReducing governmental expenditures
taxation · public spending · entitlements · IMF · bailout · stimulus · quantitative easing · central bank · federal reserve · sequestration
treasury bonds
Government-issued debt securities
- government securitiesState-backed debt instruments
- bond marketVenue for debt securities
- creditorsThose owed payment
interest · lender · bondholders · gilt · T-bills · underwriting · refinancing · creditworthiness · yield · maturity
inflation
Sustained price level increase
- interest ratesPrice paid for borrowing
- macroeconomicsStudy of aggregate economies
- recessionProlonged economic decline
economic growth · financial stability · currency devaluation · bond yields · liquidity · crowding out · credit downgrade · contagion
repayment
Giving back what's owed
- liabilityLegal or financial obligation
- servicingPerforming routine maintenance
- amortizationGradual debt reduction schedule
arrears · indebtedness · interest payments · installments · solvency · settlement · due · encumbrance · commitment · future generations
economic independence
Financial self-sufficiency
- conditionalityState of being dependent
- autonomyIndependent decision-making capacity
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- UK statisticspopulation, GDP, crime statistics, unemployment rate, population data
- deficitsbudget deficit, federal deficit, shortfall, fiscal deficit, deficit reduction
- debtcreditor, owe, debtor, lender, unpaid
- debtscar loan, student loan, loans, bank loan, personal loan
- economyGDP, money, inflation, inflation rate, GNP
national debtbudget surplus
Revenue exceeding outlays
fiscal surplus · government surplus · government reserves · trade surplus · balanced budget
national debtfiscal austerity
Reduced government expenditure policy
balanced budget amendment · fiscal conservatism · debt reduction · fiscal responsibility · pay-as-you-go
debt, nation, national, nationalism, international, nationality, multinational, nationalist, nationalize