National debt

National debt is a term that describes the combined total over time of all the net currency that the government has added into the economy since inception. It is normal for most nations to see their money supply increase over time with the growth of population, economy, and trade. The term "debt" dates back to when nations were on fixed exchange rate or gold convertibility arrangements. However, we should now view this as a nation’s base money supply, with government bonds being simply an interest-earning option for the cumulative savings of currency.