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.
Government debt is not only used for funding government expenditure (it is not used even for that depending on your point of view, but that's another issue). Government debt serves at least two other purposes: 1. the government debt of a sovereign currency issuing government (e.g. US, UK, Japan, NOT Eurozone) is used by financial institutions as a risk-free investment. The reason it is called risk-free is that there is no default risk, the government cannot fail to meet the repayments of debt issuing in a currency it creates and controls.