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  2. The public debt is how much a country owes to lenders. These can include individuals, businesses, and even other governments. The term "public debt" is often used interchangeably with the term "sovereign debt." Public debt usually only refers to the national debt. Some countries also include the debt owed by states, provinces, and municipalities.
    www.thebalancemoney.com/what-is-the-public-deb…
    Government debt is known as national debt or as federal or public debt. It's money borrowed by the government to pay for its expenses. The national debt in the U.S. is primarily held by the public, followed by foreign governments, banks, and investors.
    www.investopedia.com/updates/usa-national-debt/
    A majority of the national debt is held by "the public," which includes individuals, corporations, state or local governments, Federal Reserve Banks, and foreign governments. 3 In other words, debt held by the public includes U.S. government debt held by any entity except the U.S. federal government itself (Figure 2).
    research.stlouisfed.org/publications/page1-econ/20…
     
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