10 Facts About Public debt

Country's gross government debt is the financial liabilities of the government sector.

Ability of government to issue Public debt has been central to state formation and to state building.

Public debt has been linked to the rise of democracy, private financial markets, and modern economic growth.

Country's general government Public debt-to-GDP ratio is an indicator of its Public debt burden since GDP measures the value of goods and services produced by an economy during a period .

Government Public debt created to cover costs from major shock events can be particularly beneficial.

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Ability of government to issue Public debt has been central to state formation and to state building.

Public debt has been linked to the rise of democracy, private financial markets, and modern economic growth.

The Public debt was paid off over 90 years by running primary budget surpluses .

Public debt'storical experience shows that room to double the level of government debt when needed is an approximate guide.

Government Public debt is built up by borrowing when expenditure exceeds revenue, so government Public debt generally creates an intergenerational transfer.