PUBLIC DEBT • DICTIONARY ONE.COM • Definition of Public debt

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/pˈəblɪk dɛt/ Listen

Public debt

noun

The total of the nation's debts: debts of local and state and national governments; an indicator of how much public spending is financed by borrowing instead of taxation.

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Etymology of 'Public debt'

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"Public debt" Quotes from Famous Books

... friction between the king and the Norwegian Storthing. At the treaty of Kiel the king had promised that Norway would assume a part of the Norwegian-Danish public debt; but as the Norwegians had never acknowledged this treaty, they held that it was not their duty to pay any part of the debt, and declared besides that Norway was not able to do so. But as the powers had agreed to help Denmark to enforce her claims, a compromise was effected in 1821, by ...

— Norwegian Life • Ethlyn T. Clough

... Czecho-Slovak nation will carry out far-reaching social and economic reforms. The large estates will be redeemed for home colonisation, and patents of nobility will be abolished. Our nation will assume responsibility for its part of the Austro-Hungarian pre-war public debt. The debts for this war we leave to those who ...

— Independent Bohemia • Vladimir Nosek

... Hungary has no public debt, it has fifteen millions of population, a territory of more than one hundred thousand square English miles, abundant in the greatest variety of nature's blessings, if the doom of oppression be taken from it. The ...

— Select Speeches of Kossuth • Kossuth

... wealth and of her power, saw, with wonder and vexation, that she was more wealthy and more powerful than ever. Her trade increased. Her manufactures flourished. Her exchequer was full to overflowing. Very idle apprehensions were generally entertained, that the public debt, though much less than a third of the debt which we now bear with ease, would be found too heavy for the strength of the nation. Those apprehensions might not perhaps have been easily quieted by reason. But Pitt quieted them by a juggle. ...

— The Miscellaneous Writings and Speeches of Lord Macaulay, Vol. 3. (of 4) • Thomas Babington Macaulay

... to be economy. But just how economies were actually to be effected was not so clear. For months Gallatin had been toiling over masses of statistics, trying to reconcile a policy of reduced taxation, to satisfy the demands of the party, with the discharge of the public debt. By laborious calculation he found that if $7,300,000 were set aside each year, the debt—principal and interest—could be discharged within sixteen years. But if the unpopular excise were abandoned, where was the needed revenue to be found? New taxes were not to be thought of. The alternative, then, ...

— Jefferson and his Colleagues - A Chronicle of the Virginia Dynasty, Volume 15 In The - Chronicles Of America Series • Allen Johnson

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