Government Debt
Securities
Government debt (also known as public debt or
national debt) is money (or credit) owed by any level of government; either
central government, federal government, municipal government or local
government. As the government represents the people, government debt can be
seen as an indirect debt of the taxpayers. The government accumulates debt
over time by running a deficit: that is, by spending more than it taxes.
Government debt can be categorized as internal debt, owed to lenders within
the country, and external debt, owed to foreign lenders.
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