The average u. s. citizens' share of the government debt represents less than 2 percent of a person's lifetime income is True
Public sector debt Government debt is the amount owed by a government. It is also referred to as public debt, public interest, national debt, and sovereign debt. The discrepancy between government spending and revenue is referred to as the annual "government deficit."
Any money or credit owing by any level of government is referred to as government debt, also known as public debt. Both debt owed to domestic creditors and debt owed to foreign banks or other nations are included in this. A country's economy can be better understood by understanding its government debt.
Hence, The average U.S. citizens' share of the government debt represents less than 2 percent of a person's lifetime income.
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