What Is the National Debt?


The national debt refers to the total amount of all borrowed deficits financed by the government for a whole year the deficit is the outstanding national debt.
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national debt
the financial obligations of a national government resulting from deficit spending.
Source: Dictionary.com
National debt or government debt is money owed by a central government and an indirect debt of the taxpayers. It includes government liabilities such as prospective pension payments and payments for goods and services used up but not yet paid.
National debt is the money owed by a central government. It is argued by some experts that the UK national debt is high, because national debt includes private finance initiatives and pension contributions, which the government is supposed to pay.
As at June 2011 US statistics revealed that the biggest economy in the world had an outstanding debt of 14.46 trillion which is roughly 98% of the 2010 GDP. This roughly translates to a debt of 46000 per citizen or 130000 per tax payer. US has had public debt for most of its existence with much of the debt coming from the American Revolutionary war and the civil war period.
The Total public debt outstanding was $14.03 trillion as of 31st December,2010 and was 96.5% of fiscal year (FY) 2010's.
For an up to the second check, for the exact amount of the US national debt, please visit the website provided by the source. As of November 2nd, 2008 at 9:40pm PST, the national debt is $10,543,593,785,097.01
Q&A Related to "What Is the National Debt"
National debt is the measurement of money that the entire nation owes as a whole. The national debt varies, depending on money burrowed from other countries, as well as many other
1. Reduce pork barrel spending. Pork barrel spending is the practice of paying for pet projects for members of congress. Congressmen love to brag about how much money they have brought
To solve the national debt, we first need to stop borrowing. This includes money from International destinations and countries. Second, we need to increase the value of our dollar
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