government debt
State's accumulated loans
Government debt is the total amount a government owes to creditors—accumulated from borrowing to cover budget shortfalls when spending exceeds revenue.
Governments issue bonds and treasury securities to finance this debt, paying interest to holders.
The national debt has grown to unprecedented levels.
Economists debate whether government debt stimulates growth or burdens future generations.
Also called national debt or public debt.
Stored organizational funds
- securitiesTradeable financial assets
- municipal bondsLocal government debt securities
- couponCertificate for reduced price
- yieldProduce or relinquish
maturity · face value · fixed-income · benchmark · marketable · gilt · T-bill · note
Plan for spending
- taxationCompulsory government revenue collection
- fiscal policyState spending and taxation
- treasuryStored organizational funds
- appropriationUnauthorized claiming or allocation
fiscal year · entitlement · levy · austerity · stimulus · public expenditure · revenue collection · fiscal responsibility
Preset standard option
- credit ratingAssigned measure of borrower reliability
- bailoutEmergency aid preventing bankruptcy
- IMFGlobal economic assistance organization
- World BankGlobal development finance institution
Sustained price level increase
- GDPNational output abbreviation
- recessionProlonged economic decline
- monetary policyCentral bank economic controls
- central bankNational currency management institution
interest rates · economic growth · currency · exchange rate · crowding out · quantitative easing · hyperinflation · deflation
Giving back what's owed
- liabilityLegal or financial obligation
- arrearsOverdue financial obligations
- amortizationGradual debt reduction schedule
- principalChief school administrator
interest · settlement · commitment · encumbrance · rollover · refinancing
Insufficient funds for expenditures
- expendituresMoney paid out
- overspendingExceeding one's budget
- borrowingTemporary taking of another's
- red inkSymbol for financial loss
underfunding · deficit spending · spending cuts · widening gap
treasury
Stored organizational funds
- securitiesTradeable financial assets
- municipal bondsLocal government debt securities
- couponCertificate for reduced price
yield · maturity · face value · fixed-income · benchmark · marketable · gilt · T-bill · note · auction
budget
Plan for spending
- taxationCompulsory government revenue collection
- fiscal policyState spending and taxation
- treasuryStored organizational funds
appropriation · fiscal year · entitlement · levy · austerity · stimulus · public expenditure · revenue collection · fiscal responsibility · balanced budget
default
Preset standard option
- credit ratingAssigned measure of borrower reliability
- bailoutEmergency aid preventing bankruptcy
- IMFGlobal economic assistance organization
inflation
Sustained price level increase
- GDPNational output abbreviation
- recessionProlonged economic decline
- monetary policyCentral bank economic controls
central bank · interest rates · economic growth · currency · exchange rate · crowding out · quantitative easing · hyperinflation · deflation · stagflation
repayment
Giving back what's owed
- liabilityLegal or financial obligation
- arrearsOverdue financial obligations
- amortizationGradual debt reduction schedule
principal · interest · settlement · commitment · encumbrance · rollover · refinancing
budget shortfall
Insufficient funds for expenditures
- expendituresMoney paid out
- overspendingExceeding one's budget
- borrowingTemporary taking of another's
red ink · underfunding · deficit spending · spending cuts · widening gap
- eurozone criteriainflation rate, budget deficit, exchange rate, interest rate, price stability
- public financebudget deficit, tax revenue, budgets, expenditure, public spending
government debtbudget surplus
Revenue exceeding outlays
government surplus · fiscal surplus · government assets · balanced budget · fiscal health
govern, debt, government, governor, governing, governed, debts, governance, indebted