Social Studies: With its primary creditors being Japan and China, what is the term for the total sum of money the U.S. government (or, rather, its people) owes?
Answer National debt
Even national governments have creditors. The national debt is the amount of debt that the United States owes these creditors, and it's held by the public, not the government. So, if the government chooses to spend more than it receives, the debt the public owes increases.
Last updated 4 years ago · 3.8K views · SOURCE
