Crossword Genius

The full extent of governmental borrowings (8,4)

Ross

I believe the answer is:

national debt

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This clue could be a double definition.

'the full extent' is the first definition.
The definition suggests a singular noun which matches the answer.

'of governmental borrowings' is the second definition.
The definition suggests a singular noun which matches the answer.

Can you help me to learn more?

(Other definitions for national debt that I've seen before include "something for government to handle" , "Money a country owes" , "Country's total borrowing" , "Do we all owe this" , "which the whole country must pay for" .)

I've seen this clue in The Globe and Mail.
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