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Households serviced their debt.
Governments default on their debt.
Their debt burden is heavier.
"It's their debt," he said.
Their debt was forgiven.
"All New Yorkers are in their debt".
Politicians never acknowledge their debt to him.
The yield on their debt rose sharply.
But their debt situation remains muddled.
They pay down their debt.
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This sharply reduced their debt-default probabilities.
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