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 ?
However, the domestic public debt ratio fell to 91.1% of GDP in June 2017, compared to 96.7% in June 2016, due to the increase of gross domestic product.
In the first chapter of the book, the authors provide a very brief overview and some fundamental criticisms of the conventional macroeconomic approach to fiscal policy and public debt. The legacy of Keynes's General Theory in putting deficit spending at the forefront of fiscal policy measures to promote macroeconomic stability and full employment is well known and has been widely discussed among modern economists.
(253) Salsman classifies public debt theorists into three categories that clarify their essential differences: pessimists, optimists, and realists.
Outstanding public debt rose from 52.7 billion dinars to 62.791 billion dinars between 2016 and 2017.
Revaluation gain on account of appreciation of US dollar against other foreign currencies reduced the impact of net external inflows on external public debt portfolio.
The public debt per capita is calculated by dividing the debt to the number of citizens, in Macedonia this accounts for 2,599.7 euro.
The ministry said the uptick in the country's public debt was driven by lower economic growth forecasts for 2016.
If resources generated through public debt are used productively then it may lead to higher growth and adds their capacity to service and repay public debt.
Considering this situation, the adequate policies to tackle public finances sustainability need to have, as a launching base, the overall strategy of the European Union, focused on the three component parts, namely abatement of public debt, increasing productivity and employment and last but not least, reforming the pension and healthcare systems.
The Rs7.6-trillion increase in public debt is far higher than the estimated budget deficit of nearly 9% of gross domestic product (GDP) even after taking into account the impact of steep currency depreciation on the stock of external public debt.
The addition to public debt in the previous fiscal year was also more than the total public debt that the Pakistan Peoples Party (PPP) government added in five years (2008-2013), showed figures released by the State Bank of Pakistan (SBP) on Friday.
Clarifying a news item published in a section of press titled 'Govt added US $10.814 billion to public debt', the EAD said the number for external public debt (i.e.