A situation wherein, or amount whereby, spending exceeds government revenue.
The definition of a debit is a payment made, or a payment owed.
Something owed, such as money, goods, or services:
An account on a balance sheet showing this
Unpaid and overdue debts
(Law) An agreement or duty by which one person (the obligor) is legally bound to make payment or perform services for the benefit of another (the obligee)
Something owed or deserved:
A person considered with regard to his or her credit or reliability in discharging debts.
an obligation to pay money to another party
Find another word for indebtedness. In this page you can discover 11 synonyms, antonyms, idiomatic expressions, and related words for indebtedness, like: deficit, responsibility, debit, debt, liability, arrearage, arrears, obligation, due, pay and financial obligation.