If foreign debt matters more than public debt, the key variable requiring adjustment is the external deficit, not the fiscal deficit. A country that has a balanced current account does not need any additional foreign capital.

If foreign debt matters more than public debt, the key variable requiring adjustment is the external deficit, not the fiscal deficit.

The U.S. government was unwilling to make up for this private sector shortfall.

By running a deficit, a country increases its national debt and imposes burdens on future generations.

Its budget and current account deficits are large, public debt is high, banks are bad, and foreign short term debt is high relative to reserves.

At the onset of its crisis, Argentina s budget deficit, public debt, and current account deficit (as a share of GDP) were about 3 , 50 and 2 , respectively.

The fiscal deficit widened to 10 of GDP, causing government debt (including external debt), which had been falling steadily, to rise to 76 of GDP.

Even if this widens the deficit in the short run, it will reduce the national debt in the long run.

But the bill for this bravura performance keeps growing high and rising debt, high and rising deficits, very high inflation.

America s fiscal and external deficits will not disappear just because the chief magician at the Federal Reserve waves his wand and says abracadabra.

And the deficits run up during the intervening decade would cause the national debt to double, rising to more than 80 of GDP.

Without growth, it will be difficult to stabilize public and private debts and deficits as a share of GDP the most important indicator of fiscal sustainability.

The deficits to which America s debt funded wars contributed so mightily are now forcing the US to face the reality of budget constraints. America s military spending still nearly equals that of the rest of the world combined, two decades after the end of the Cold War.

But annual deficits are poor approximations of the likelihood that one member may have to repay another s debt.

The deficits to which America s debt funded wars contributed so mightily are now forcing the US to face the reality of budget constraints.

NEW YORK Today s swollen fiscal deficits and public debt are fueling concerns about sovereign risk in many advanced economies.

There is both a knowledge deficit and an understanding deficit.

Surpluses are used to pay off debt, and the deficits are financed by acquiring debt, leaving the debt GDP ratio constant over the cycle.

Japan's public deficits spawned a national debt of 140 of annual GDP, without producing any economic resurgence. Indeed, today's budget deficits reflect long term problems that are not what Keynesian theory envisions.

Japan's public deficits spawned a national debt of 140 of annual GDP, without producing any economic resurgence.

Ireland, the European country with the highest rate of growth is also the one that most reduced its deficit and public debt by cutting expenditures and taxes.

In Europe, especially Germany, and in some quarters in the US, as government deficits and debt grow, so, too, do calls for increased austerity.

The prevailing view when the euro was established was that all that was required was fiscal discipline no country s fiscal deficit or public debt, relative to GDP, should be too large.

But Ireland and Spain had budget surpluses and low debt before the crisis, which quickly turned into large deficits and high debt.

The Stability and Growth Pact (SGP) states that government deficits and debt should be less than 3 and less than 60 of GDP respectively.

But Ireland, with previously modest deficit and debt levels, also suddenly and unexpectedly faces the same kind of issue, owing to the government s need to take over private debt from the banking sector.

This deficit reflects an underlying research deficit.

In Europe, the gap was filled by public services free education, health care, etc. that were not fully financed by taxes, fueling public deficits and debt.

Debt and Delusion

My Love Must Wait.

Instead, they focused exclusively on US foreign debt, ignoring household debt (mortgage and consumer debt), public debt, business debt, and financial debt.

Reaganomics was the subject of debate with supporters pointing to improvements in certain key economic indicators as evidence of success, and critics pointing to large increases in federal budget deficits and the national debt.

Unemployment rates would converge, as would other important macroeconomic variables, such as unit labor costs, productivity, and fiscal deficits and government debt.

Debt

Who do you owe?

6. Operating deficit (3 4 5)

One, scarcity.

Gas shortage.

The ensuing massive bank bailout, plus continued budget deficits and declining nominal GNP, means that Ireland s debt is ballooning, while its capacity to pay has collapsed.

One has only to look at official data, including Greece s external debt, which amounts to 170 of national income, or its gaping government budget deficit (almost 13 of GDP).

Twin current account and fiscal deficits (and or currency and debt maturity mismatches) were the rule.

The United States trade and current account deficits have begun to shrink relative to American and world GDP.

Now it is our responsibility and the responsibility of the Organization to remember, to remind and to warn.

Kofuyu was honored...

The shortage of job opportunities and the real unemployment rates