public debt

public debt
In a narrow sense, national or state obligations; in a broader sense, national obligations, state obligations, county obligations, town obligations, in fact the obligations of any public body. 43 Am J1st Pub Sec § 3. public debtor. Broadly, the nation, a state, county, town, municipal corporation, or political subdivision obligated under outstanding indebtedness. A municipal corporation, school district, local improvement district, county, or other political subdivision eligible for relief by the composition of its indebtedness under provisions of the Bankruptcy Act. 9 Am J2d Bankr § 1416.

Ballentine's law dictionary. . 1998.

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  • Public Debt Acts — are Acts of Congress which attempt to define public spending limits within a fiscal year. United States The United States Public Debt Act of 1939 eliminated separate limits on different types of debt.[1] The Public Debt Act of 1941 raised the… …   Wikipedia

  • public debt — debt of a country, national debt …   English contemporary dictionary

  • 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 • Hypernyms: ↑debt * * * noun : national debt …   Useful english dictionary

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  • public debt. — See national debt. [1715 25] * * * …   Universalium

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