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Public Debt

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Public debt
Issues of debt by governments to compensate for a lack of tax revenues.

Public Debt
The total of all bonds and other debt owed by a government. Most of the time, the national debt comes from bonds and other debt securities, but some countries in the developing world borrow directly from international institutions (such as the World Bank). The national debt may be internal, that is, owed to bondholders and banks within the country, or external, that is, owed to foreign governments, institutions, and/or individuals. In the United States, paying the interest on the national debt is a major part of the federal budget. See also: Deficit.


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64 billion in 2008, the ministry's figures showed, adding that the public debt (internal and external) stood at JD9.
The US public debt topped 12 trillion dollars for the first time in history, Treasury officials disclosed Tuesday, moving past a key barrier that raised hackles in Congress.
Public debt allowed citizens more control over governmental decision making and institutions were formed to regulate the ability of both the government and private citizens to contract debt.
 
 
 
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