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Discover LudwigThe phrase "national debt" is a correct and usable phrase in written English.
You can use this term when referring to the total amount of public debt owed by a country. For example, "The government is working to reduce the national debt before the next election."
Dictionary
national debt
noun
Any money owed by the government of a nation.
Exact(60)
Record national debt".
Reducing the national debt?
With their national debt!
The national debt has increased.
Then there's the national debt.
More taxes, higher national debt.
Jackson retired the national debt.
Britain's national debt exceeded.
The national debt quadrupled...
Monetising the national debt?
Growing national debt.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com