The Gallatin Election Day Battle took place on 6 August 1838, when about 200 people attempted to forcibly prevent Mormons from voting in the newly created county's first election. The skirmish is often cited as the opening event of the 1838 Mormon War.
Wiktionary(0.00 / 0 votes)Rate this definition: sovereign debt(Noun) The amount of money outstanding that was borrowed by a government in order to finance expenditure not covered by taxation.
When a country does this, it's known as a sovereign default. This is when the country cannot repay its debt, which typically takes the form of bonds. So if the US were to default, it would essentially stop paying the money it owed US Treasury bond holders. A quick refresher: the US government spends more money than it collects in taxes.