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Topic: Government debt

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	EH.Net Encyclopedia: The United States Public Debt, 1861 to 1975
		It consisted of the debt of the Continental Congress and $191,608.81 borrowed by Secretary of the Treasury Alexander Hamilton in the spring of 1789 from New York banks to meet the new government's first payroll (Bayley 108).
		During the period 1861 to 1975, the debt for which the government could be partially or contingently liable has included that of government-sponsored enterprises, railroads, insular possessions (Puerto Rico and the Philippines), and the District of Columbia.
		The debt declined continuously until 1893 to a low of $961 million with a brief exception in the late 1870s as the country dealt with the recessionary after effects of the Panic of 1873 and the controversy regarding resumption of the gold standard in 1879.
	eh.net /encyclopedia/article/noll.publicdebt (5242 words)

	:: Belgian Federal Public Debt \| Data \| Federal Government \| Debt Definition
		The federal government debt comprises that debt issued or taken over by the federal government, as well as the debt of other institutions - such as the Fadels - whose debt service cost falls to the federal government.
		The debt of the federated entities such as communities and regions, of the local government and of the social security is not included in the federal government debt.
		Debt guaranteed by the federal government is also excluded if the government does not support the debt service cost.
	www.debtagency.be /en_data_debt_state_definition.htm (140 words)

	Debt-Free Government
		In 2014, the year the OMB projects that debt held by the public could be eliminated with no changes in policy, Clinton's budget instead sees a publicly held debt of $1.17 trillion.
		That figure now is $5.6 trillion - a total that includes the $3.7 trillion in debt held by the public and the $1.9 trillion in debt held by the government in trust funds, primarily Social Security's.
		Private economists generally are neutral, arguing that because the trust funds exits only as bookkeeping entries, it's the debt held by the public that actually matters for the economy.
	members.tripod.com /~ronmull/debt.html (882 words)

	Government Debt Has No Upside - Mises Institute
		From an accounting viewpoint, the federal debt is a wash for the country as a whole (assuming it is US citizens who own the debt).
		Each government bond represents a claim on taxpayers, but if those bondholders consist entirely of US taxpayers, the size of the debt is irrelevant to total financial wealth.
		Government finance is a messy affair, particularly when politicians use "off budget" expenditures and other gimmicks to cover their tracks.
	www.mises.org /story/2006 (1612 words)

	Grandfather Federal Government Debt Report - page 1 - by MWHodges
		The debt down-trend started slowing in the mid-1950s, and only reached its 50% pre-war ratio in 1964, instead of by 1956 (8 years late), delayed perhaps by Korea and Vietnam, and due to the fact government social spending was growing much faster than the economy.
		It could be said the war debt had been 'paid-off' by 1964 (since the debt ratio dropped to its pre-war level of 50%), and defense spending percent economy was on a downward trend thereafter - - despite the continuing cold war with the Soviet Union.
		Government Growth Report that all government spending (federal plus state/local) has increased from 12% of the economy to 40% of same, in the past 7 decades.
	home.att.net /~mwhodges/debt_a.htm (4214 words)

	State Government Debt - Michigan in Brief
		To issue state general-obligation debt, the constitution requires a two-thirds vote by the legislature and approval by the voters in a general election.
		As the exhibit shows, all categories of state debt have grown during the 1990s (short-term debt is not included because the constitution requires it to be zero by the end of the fiscal year in which it is incurred).
		General-obligation debt rarely is issued because of the constitutional requirement for voter approval; thus, at year end FY 1995–96, outstanding Michigan generation-obligation debt totaled just $685 million.
	www.michiganinbrief.org /edition06/text/issues/issue-54.htm (1417 words)

	Portal - Table A. Central government Debt
		The government is not directly liable for this type of debt, but it does represent a contingent liability because the government, as guarantor, must assume the obligation in the event of default.
		The debt data are compiled according to the debt holder and are broken down by type of instrument (tradable and nontradable).
		Government debt data is compiled on a calendar year basis.
	www.ine.gov.mz /Ingles/metadados/fiscal_sector/ta_gcd (712 words)

	The Truth About Government Debt
		The current law treats certain government obligations such as Social Security payments and veteran pensions as debts, meaning they must be included within the permitted debt ceiling.
		Unlike a private sector business, our federal government should not be seeking out new ways to increase the scope of its dubious "services." Any government that consumes 40% of the most productive economy in the world and still can't balance its books is a government that vastly overspends.
		Debt does matter, especially to future generations that will be asked to pay for our extravagance.
	www.lewrockwell.com /paul/paul20.html (803 words)

	Nationalbanken // Government Debt // Web document // Introduction to Government Debt (Site not responding. Last check: 2007-09-17)
		Government bonds and Treasury bills are issued on MTSDenmark with primary dealers in Danish government bonds and primary dealers in Treasury bills acting as counterparties.
		The purpose of the central government's foreign borrowing is to maintain an adequate foreign-exchange reserve in Danmarks Nationalbank.
		The strategy for government borrowing is laid down at quarterly meetings between the Ministry of Finance and Danmarks Nationalbank on the basis of proposals from Government Debt Management at Danmarks Nationalbank.
	www.nationalbanken.dk /DNUK/GovernmentDebt.nsf/side/Introduction_Government_Debt!OpenDocument (415 words)

	USATODAY.com - The looming national benefit crisis (Site not responding. Last check: 2007-09-17)
		The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire.
		The estimates computed by USA TODAY are similar to ones by government watchdog agencies such as the Congressional Budget Office and the Government Accountability Office and respected think tanks such as the conservative American Enterprise Institute, the liberal Brookings Institution and the non-partisan Urban Institute.
		Government accounting rules are more lenient because, unlike a business, Congress can take whatever money it needs through taxes and renege on promises by passing new laws.
	www.usatoday.com /news/nation/2004-10-03-debt-cover_x.htm (2777 words)

	Government Debt – The Greatest Threat to National Security by Ron Paul
		The original idea behind the debt limit law was to shine a light on government spending, by forcing lawmakers to vote publicly for debt increases.
		Unlike ordinary debts, however, government debts are not repaid by those who spend the money –; they’re repaid by you and future generations.
		China and other foreign government creditors could in essence wage economic war against us simply by dumping their huge holdings of U.S. dollars, driving the value of those dollars sharply downward and severely damaging our economy.
	www.lewrockwell.com /paul/paul213.html (670 words)

	Government Debt
		Once again the federal government has reached its "debt ceiling," and once again Congress is poised to authorize an increase in government borrowing.
		When President Reagan entered office in 1981 facing a federal debt of $1 trillion that had piled up over the decades, he declared that figure "incomprehensible." At its present rate of spending, the federal government will soon amass $1 trillion of new debt in just one year.
		Unlike ordinary debts, however, government debts are not repaid by those who spend the money-- they're repaid by you and future generations.
	www.vanhornforsenate.com /government_debt.htm (649 words)

	NCPA - Brief Analysis 402, How Big Is the Government's Debt?
		This "total debt" is more than three times the size of the nation's total output in 2001, and amounts to $116,381 for every man, woman and child in America.
		It is often noted that the government debt grew substantially during the presidency of Ronald Reagan.
		Thus the combined government debt was reduced by 32 percent - almost one-third - during Ronald Reagan's term in office.
	www.ncpa.org /pub/ba/ba402 (1072 words)

	RIA Novosti - Russia - Government debt to grow in nominal terms from 2007 - Kudrin
		In the finance ministry's estimates, government debt will increase through the buildup of domestic debt and its replacement of foreign debt, Kudrin said.
		The government could channel 31.4 billion rubles (about $1.1 billion) into budget expenditure financing in 2007, 50.4 billion rubles (about $1.8 billion) in 2008, and 63.3 billion rubles (about $2.2 billion) in 2009.
		According to the finance ministry, government debt will equal 10.63% of GDP in 2006, 9.78% in 2007, 9.16% in 2008 and 8.71% in 2009.
	en.rian.ru /russia/20060411/45582798.html (333 words)

	Hillsborough County Government Online - Debt Management
		To manage the County's issuance of debt and to administer its outstanding debt in a manner that serves the public interest, complies with the policies and meets the goals of the County Commission, ensures that appropriate financial controls are exercised, and enhances the long-term fiscal health of the County.
		As of September 30, 2005, total County debt outstanding is $925,851,120, which includes $185,725,000 in debt issued by the Tampa Sports Authority and $240,905,000 in enterprise fund debt.
		The County’s enterprise fund, general obligation and limited tax debt continues to be “self supporting” in that this debt is secured solely by pledges of enterprise revenue and ad valorem taxes which adequately cover debt service on these bonds.
	www.hillsboroughcounty.org /debtmanagement/home.cfm (940 words)

	Grandfather Federal Government Debt Report by MWHodges
		Our younger generation is being loaded with a historic debt burden, caused by run-away consumptive social spending in the past 30 years - with zero plan by the generation that created it taking the responsibility to pay it off (past claims that total debt was being paid-down are bogus, since total debt increased every year).
		If today's debt ratio to national income were the same as in the early 1970s (40%), today's debt would be a whopping $3.6 trillion ($12,000 per person) less than it is.
		Of the $8.2 Trillion in total Federal government debt outstanding at the end of CY 2005, approximately $4.7 Trillion was owed to the public (foreign and domestic) in the form of treasury bonds and T-bills.
	mwhodges.home.att.net /debt.htm (1391 words)

	USATODAY.com - Government debt on the rise again (Site not responding. Last check: 2007-09-17)
		WASHINGTON (AP) — The Senate voted Tuesday to boost the government's debt ceiling by $450 billion, but election-year politicking continued to bog down the must-pass legislation in the House.
		Boosting the current debt ceiling to $6.4 trillion is expected to provide enough room for the government to borrow money until at least December — after the November elections for control of the House and Senate.
		When the government approached its borrowing cap earlier this spring, Treasury Secretary Paul O'Neill dipped into federal accounts his agency controls to keep the government from breaching the borrowing ceiling, a legal maneuver.
	www.usatoday.com /news/washington/2002/06/11/debt-limit.htm (501 words)

	Government Debt vs Private Debt
		To understand the difference between government debt and private debt, we must first understand the distinct roles played by the monetary base issued by the Federal Reserve and credit money issued by banks.
		The debt can be carried indefinitely at no financial risk to either the government or the private sector.
		But as long as the debt is viewed as a savings vehicle by the private sector, it is benign and a valuable asset for the nation.
	wfhummel.cnchost.com /comparedebt.html (752 words)

	Government debt - Wikipedia, the free encyclopedia
		As the government represents the people, government debt can be seen as an indirect debt of the taxpayers.
		Governments usually borrow by issuing securities such as government bonds and bills.
		Understanding the structure of public debt and analyzing its risk requires one to:
	en.wikipedia.org /wiki/Government_debt (2426 words)

	U.S. National Debt (Site not responding. Last check: 2007-09-17)
		We are going to hit a 50-year high for debt as a percent of the economy (GDP).
		The big red number is the "Gross National Debt," and the small red number is the "debt held by the public" -- as if borrowing $2 trillion from the Social Security Trust Fund was not borrowing from the public.
		Secretary of Commerce under Nixon, Peterson explains the national debt by the Republicans' pursuit of reckless supply-side economics and the Democrats' unwillingness to consider limits on entitlements.
	zfacts.com /p/461.html (402 words)

	Government Debt (Site not responding. Last check: 2007-09-17)
		National debt is the total amount of money owed by the government.
		According to the US treasury department, the national debt of the year 1791was just $75 million dollars, but as for today, it rises by that amount every dozen hours.
		The government spends money largely on the Federal Reserve and government accounts, Foreign and international, private pension funds, mutual funds, State and local governments, Commercial banks and credit unions, State and local government pension funds, US Savings bonds, and last but not least Insurance companies.
	userpages.umbc.edu /~hdang2 (144 words)

	Government Debt - New Zealand Debt Management Office - The Treasury
		The term "National Debt" refers to the debt that New Zealand entities (the Government and Corporates) owe to overseas entities.
		It should not be confused with Public Debt, which is the debt of the Government of New Zealand.
		It includes information memoranda for New Zealand Government securities issued in the wholesale market, background on New Zealand's financial markets, and an Economic and Financial Overview which provides a range of information on New Zealand, including debt statistics.
	www.nzdmo.govt.nz /govtdebt (344 words)

	Government Debt- The Greatest Threat to National Security
		Government debt carries absolutely no stigma for politicians in Washington.
		Debt destroys U.S. sovereignty, because the American economy now depends on the actions of foreign governments.
		Only when we stop trying to remake the world in our image, and reject the entitlement state at home, will we begin to create a more secure America that is not a financial slave to foreign creditors.
	www.house.gov /paul/tst/tst2004/tst102504.htm (644 words)

	Liberia Excluded from Canadian Government Debt Relief
		Last month the Canadian federal government, through Finance Minister Paul Martin, announced a moratorium on debt payments from all heavily indebted poor countries (HIPCs) owing Canada.
		The minister was delivering on an initiative he launched during meetings of the World Bank and IMF in Prague last September, at which he publicly requested that all creditor governments suspend debt interest payments from poor countries.
		Eleven of these countries, with a total debt amounting to some $700 million, immediately begin benefiting from the moratorium as of January 1, this year.
	www.theperspective.org /debtrelief.html (223 words)

	How Government Debt Grows
		Interestingly, the legal debt limit is only $8.18 trillion, a figure that was reached a few weeks ago.
		Unlike a private business, our federal government should not be seeking out new ways to increase the scope of its dubious “services.” Any government that consumes at least 25% of the American economy and still can't balance its books is a government that vastly overspends.
		The issue is not whether the Treasury has sufficient current income to service the debt, but rather whether a government that spends so much ultimately will destroy its own economy.
	www.house.gov /paul/tst/tst2006/tst031306.htm (508 words)

	Norges Bank - Government debt (Site not responding. Last check: 2007-09-17)
		The Ministry of Finance is responsible for managing the government’s debt securities and cash holdings.
		Pursuant to agreements between Norges Bank and the Ministry of Finance, some responsibilities associated with the management of the government’s debt and cash holdings have been assigned to Norges Bank.
		In accordance with these agreements, Norges Bank shall perform a number of services relating to government debt management in Norway.
	www.norges-bank.no /english/government_debt (135 words)

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