the part of the national debt, consisting mostly of consols, that the government has no obligation to repay by a specified date
funded debt in American English
noun
a debt, as in the form of bonds, having a long period of maturity
Word origin
[1810–20]This word is first recorded in the period 1810–20. Other words that entered Englishat around the same time include: cleavage, knockout, liberalism, technique, zombie