National Debt
Definition
The total amount a government owes — accumulated from past budget deficits. Measured in absolute terms or as a percentage of GDP.
Example
US national debt passed $30 trillion in 2022, roughly 120% of GDP.
The total amount a government owes — accumulated from past budget deficits. Measured in absolute terms or as a percentage of GDP.
US national debt passed $30 trillion in 2022, roughly 120% of GDP.