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 ?
At the end of 2013, the lowest ratios of government debt to GDP were recorded in Estonia (10.
Saying that the proposed rules could hamper monetary policy in the US and outside, the bank said that the rule should have provisions to exclude foreign government debt.
This sequence of events is the danger we can expect from Japanese government debt, and market perceptions of the debt.
Statistics are derived from national sources based on a questionnaire prepared under the auspices of the OECD Working Party on Government Debt Management.
Five-year credit default swaps (CDS) on Greek government debt widened to 795 basis points, up 32 bps on the day and compared with around 785 bps before the data, according to CDS monitor Markit.
Some 10 percent of French government debt is of less than one-year maturity, which is five times greater than Germany's level of 2 percent.
Nonetheless, Brazil's sovereign ratings remain constrained by its heavy government debt burden and the substantial market risk from its relatively short duration.
At the end of the reporting period, the government debt/ gross domestic product (GDP) ratio was 23,1%, the share of external government debt being 13,4% and of domestic government debt - 9,7% of GDP.
BRUSSELS, Oct 23 (KUNA) -- At the end of the second quarter of 2013, the government debt to GDP ratio in the euro area stood at 93.
Banka Slovenije said, 'Even though government debt is much lower than in other euro-region countries, its fast increase needs to be tackled.
The cost of protecting government debt against default in Greece, Spain and other peripheral euro zone debt issuers fell on Tuesday as investors switched back to riskier assets post-bank stress tests.
The outstanding balance of central government debt stood at 846.

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