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Government debt is typically measured as the gross debt of the general government sector that is in the form of liabilities that are debt instruments. [2]: 207 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future.
The European debt crisis is a crisis affecting several eurozone countries since the end of 2009. [7] [8] Member states affected by this crisis were unable to repay their government debt or to bail out indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank).
Wagner's law, also known as the law of increasing [a] state activity, [2] is the observation that public expenditure increases as national income rises. [3] It is named after the German economist Adolph Wagner (1835–1917), who first observed the effect in his own country and then for other countries.
Rising government debt levels have seemingly always been in the headlines. In recent years, U.S. debt levels have become political, with one side of the aisle often refusing to raise the debt limit...
To solve this problem, the Treasury refinanced the debt with variable short and medium-term maturities. Again, the Treasury issued debt through fixed-price subscription, where both the coupon and the price of the debt were dictated by the Treasury. [3] The problems with debt issuance became apparent in the late 1920s.
The government then has to issue more bonds, which because of supply and demand, become less valuable with each one issued. And the cycle continues forever. For people and for governments, debt is ...
The WEP reduced Social Security benefits for people who worked in both government and private-sector jobs before retiring, thereafter receiving both a pension and partial Social Security benefits.
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity.Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare.