Public debt

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Related to Public debt: national debt

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 ?
By the end of the current year, the Kingdom's public debt will comprise 81.
We expect that public debt will decline below 100% of GDP, while output will register a third continuous year of growth by then," he said.
Figures delivered at the conference described that total external public debt bolstered from US$3.
According to this important financial parameter, Bulgaria still remains at the bottom of the 'negative' public debt rating in the entire European Union and is far below the European debt limit of under 60% of the GDP.
According to updated figures released in the report, increased annual loan ceiling caused public debt inflation to rise by 187 per cent last year, compared with the 2009 benchmarks.
It is necessary for the UAE now to expedite the issuance of the public debt law and set up the needed market infrastructure as a first step to a vibrant domestic debt market.
As for the G7 group of the world's richest nations, the public debt by end of 2012 was $42.
In the rating agency's view, the public debt policy does not change the Government's perception of the role for and link to the government of these four entities.
Consequently, the level of public debt is irrelevant for current debt issue: the government should issue debt only when government expenditures depart from their average value.
ROME, Aug 13 (KUNA) -- Italy's huge public debt has continued its steady rise to hit a new historical record high of EUR 2 trillion, with an increase of EUR 75 billion since beginning of 2012, including EU bailout funds, said a report by the Bank of Italy (Banca D'Italia) on Monday.
ISLAMABAD -- The government has linked external debt sustainability of the country with foreign exchange earnings capacity of the economy as public debt to revenue ratio is consistently rising against Public Debt-to-GDP ratio, say an official.
Summary: ABU DHABI -- The government of the UAE will further discuss its plan to introduce a law allowing public debt issues at the federal level, and it feels no pressure to issue bonds despite a budget deficit, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said on Tuesday.