The national debt is everything a country owes, added up. The size of the national debt, service the national debt, the national debt as a share of output.
It is a total rather than a yearly figure, and it grows by each deficit. What matters is usually its size against the economy rather than the number itself, since a bigger country can carry more.
1nounnational debtEverything a country owes, added up.
“Interest on the national debt now costs more than the schools budget.”
national debt is a debt.
Practised in Politics & Society