Debt Meaning
Debt Definition & Usage
An amount of money that is owed to someone or some institution, typically resulting from borrowing.
Examples
- "He is in serious debt after taking out multiple loans."
- "The company is struggling to pay off its debt and may go bankrupt."
- "I need to pay off my credit card debt before I can make any major purchases."
- "The government’s debt has been steadily increasing over the years."
- "Many students graduate with a significant amount of student debt."
A moral or social obligation to someone, often in the form of gratitude or responsibility.
Examples
- "He felt a debt of gratitude to his mentor for all the help."
- "She was determined to repay the debt of kindness shown to her family."
- "Their actions created a debt of loyalty that lasted for generations."
- "After the war, there was a national debt of honor that needed to be repaid."
- "The philanthropist's debt to the community was reflected in his charitable donations."
Cultural Context
In modern economies, debt is a key aspect of financial systems, with individuals, companies, and governments borrowing money to finance purchases or investments. National debt, in particular, has been a central topic of political and economic debate. Socially, 'debt' can also carry a connotation of obligation, such as owing someone a favor or feeling indebted for kindness or support.
The Debt That Binds
Story
The Debt That Binds
In a small town nestled by the river, two families had been intertwined for generations. The Johnsons, an old, proud family of farmers, had helped the Richters through hard times. When the Richter family farm had failed due to a long drought, it was the Johnsons who extended a loan to help them buy seeds and equipment for the following season. But that was just the beginning of a debt, one that wasn’t measured in money alone. The Richter family had worked hard to pay back the money. After a few years, the farm was flourishing again. But something more profound had occurred between the families — a deep sense of mutual respect and obligation. Henry Richter, the eldest son, could never forget the help the Johnsons had given them. He always felt a sense of moral debt, as though he owed them far more than what had been loaned. One evening, after a particularly bountiful harvest, Henry visited Samuel Johnson, the patriarch of the family. ‘I’ve been meaning to talk to you,’ Henry said, sitting across from Samuel in the dimly lit kitchen. Samuel raised an eyebrow, a knowing look on his face. ‘What’s on your mind, Henry? You’ve paid back every penny, and then some. I don’t think there’s any debt left between us.’ Henry shook his head. ‘It’s not the money, Samuel. It’s more than that. You’ve given my family a future when we had nothing, and I can’t help but feel like I owe you so much more. The debt isn’t just about dollars and cents, it’s about respect, loyalty, and everything you did for us.’ Samuel smiled and patted Henry’s hand. ‘That’s a debt we’ll both carry for the rest of our lives, but it’s not one that can ever be repaid with money.’ And so, the debt between the two families grew into something more intangible, a bond that would last long after the money was forgotten. It was a debt of gratitude, of shared history, and of a promise that no matter what happened, they would always stand together. As the years passed, Henry Richter would often reflect on that conversation. The feeling of moral debt — of a debt that bound them — stayed with him, shaping the way he lived and worked. And when times grew hard again for the Johnsons, Henry was the first to offer help, just as they had done for him all those years ago.
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