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national debt |
Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia | 0.03 sec. |
national debtDebt incurred by the central government of a country to its own people and institutions and also to overseas creditors. A government can borrow from the public by means of selling interest-bearing bonds, for example, or from abroad. Traditionally, a major cause of national debt was the cost of war but in recent decades governments have borrowed heavily in order to finance development or nationalization, to support an ailing currency, or to avoid raising taxes. Government budgets are often planned with a deficit (shortfall) that is funded by overseas borrowing. In the 1980s most governments adopted monetary policies designed to limit their borrowing requirements, both to reduce the cost of servicing the debt (paying off the interest), and because borrowing money tends to cause inflation.
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The Jefferies Randall & Dewey platform allows me to better meet the advisory, M&A, debt, public equity and private equity needs of my current and future clients. Investments include traditional securities such as bank debt, public and private bonds and notes, mezzanine instruments as well as alternative assets including trade, reclamation, mechanic lien, lease rejection and other claims associated with such situations. The second recovery class includes local government GO and tax-backed bonds, federal agency guaranteed debt, public higher education bonds, single-family housing bonds, and bonds issued by transit agencies and water/sewer facilities. |
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