Public debt

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PUBLIC DEBT. That which is due or owing by the government.
     2. The constitution of the United States provides, art. 6, s. 1, that "all debts contracted or engagements entered into, before the adoption of this constitution, shall be as valid against the United States under this constitution, as under the confederation." It has invariably been the policy since the Revolution, to do justice to the creditors of the government. The public debt has sometimes been swelled to a large amount, and at other times it has been reduced to almost nothing.

References in periodicals archive ?
As such, examples can be constructed whereby these policies are optimal because they achieve the lowest cost of government debt without forcing governments to resort to inflation.
The buildup of Japanese government debt forced changes in the relationship between the Bank of Japan and members of the underwriting syndicate for government bonds.
Theoretically, there is no clear cut consensus as to whether or not government debt should be net wealth.
This third edition provides comprehensive quantitative information on African central government debt instruments, both marketable debt and non-marketable debt.
The general government debt is composed of the aggregated outstanding liabilities of the national government, the Central Bank Board of Liquidators or CB-BOL, social security institutions and local government units (LGUs) less intra-sector holdings of government securities including those held by the Bond Sinking Fund (BSF)/Securities Stabilization Fund.
2-billion rise in outstanding national government debt.
Government debt affordability is high despite short average term-to-maturity.
The highest ratios of government debt to GDP at the end of the second quarter of 2014 were recorded in Italy (133.
China has acknowledged that it has no idea about local government debts.
At the end of the second quarter of 2012, the government debt to GDP ratio in the euro area (EA17) stood at 90.
Moody's credit rating agency, downgraded its outlook for the Bahamian economy from stable to negative, pointing to the significant run up in government debt levels in recent years and the country's limited growth prospects, reports The Nassau Guardian (Sept.
NORDIC BUSINESS REPORT-September 30, 2011--Finnish government debt rises by EUR100m in Q2 2011(C)2011 M2 COMMUNICATIONS http://www.

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