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Debt Limit
A debt limit or debt ceiling is a legislative mechanism restricting the total amount that a country can borrow or how much debt it can be permitted to take on. Several countries have debt limitation restrictions. Description A debt limit is a legislative mechanism restricting the total amount that a country can borrow or how much debt it can be permitted to take on. It is usually set as percentage of GDP, but in a few cases as an absolute amount (for example, $200 billion). Use Several countries have debt limitation laws in place. Only Denmark and the United States have a debt ceiling that is set at an absolute amount rather than a percentage of GDP. The US Congress began using the measure in 1917 and modified the financing law in 1939 to give the treasury more flexibility in issuing debt. In Denmark, a debt ceiling became necessary in 1993 as a constitutional waiver when day-to-day responsibility for the public debt was transferred to the National Bank from the Ministry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments. The department oversees the Bureau of Engraving and Printing and the United States Mint, U.S. Mint, two federal agencies responsible for printing all paper currency and minting United States coinage, coins. The treasury executes Currency in circulation, currency circulation in the domestic fiscal system, Tax collector, collects all taxation in the United States, federal taxes through the Internal Revenue Service, manages United States Treasury security, U.S. government debt instruments, Bank regulation#Licensing and supervision, licenses and supervises banks and Savings and loan association, thrift institutions, and advises the Federal government of the United States#Legislative branch, legislative and Federal government of the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stability And Growth Pact
The Stability and Growth Pact (SGP) is an agreement, among all the 27 member states of the European Union (EU), to facilitate and maintain the stability of the Economic and Monetary Union of the European Union, Economic and Monetary Union (EMU). Based primarily on :s:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 121, Articles 121 and :s:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 126, 126 of the Treaty on the Functioning of the European Union, it consists of fiscal monitoring of member states by the European Commission and the Council of the European Union, and the issuing of a yearly The European Semester#May, Country-Specific Recommendation for fiscal policy actions to ensure a full compliance with the SGP also in the medium-term. If a member state breaches the SGP's outlined maximum limit for government deficit and debt, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Public Debt
This is a list of countries by government debt. ''Gross'' government debt is government financial liabilities that are debt instruments. A ''debt instrument'' is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as Bond (finance), bonds and bills), loans, and government employee pension obligations. ''Net'' debt equals gross debt minus financial assets that are debt instruments. Net debt estimates are not always available since some government assets are difficult to value, such as loans made at concessional rates. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. In the list below, government debt is measured for the ''general government'' sector because the level of government responsible for programs (for example, health care) differs across countries, and the ge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Brake (Germany)
Germany's balanced budget amendment, also referred to as the debt brake ('), is a fiscal rule enacted in 2009 by the First Merkel cabinet. The law, which is in Article 109, paragraph 3 and Article 115 of the Basic Law, Germany's constitution, is designed to restrict structural budget deficits at the federal level and limit the issuance of government debt. The rule restricts annual structural deficits to 0.35% of GDP. The debt brake is controversial among economists. It is supported by a German strand of economics, ordoliberalism, while other economists have challenged the rule. In 2024, amid a stagnating German economy, Bundesbank president Joachim Nagel called on the German government to reform the debt brake in order to finance structural investments in the German economy. The debt brake has been amended twice since enactment, in 2022 and in 2025, both under the Scholz cabinet in the 21st Bundestag and both for the purpose of significantly increasing defense spending. Histo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Labor Party
The Australian Labor Party (ALP), also known as the Labor Party or simply Labor, is the major Centre-left politics, centre-left List of political parties in Australia, political party in Australia and one of two Major party, major parties in Politics of Australia, Australian politics, along with the Centre-right politics, centre-right Liberal Party of Australia. The party has been in government since the 2022 Australian federal election, 2022 federal election, and with List of state and territory branches of the Australian Labor Party, political branches active in all the States and territories of Australia, Australian states and territories, they currently hold government in New South Wales, South Australia, Victoria (state), Victoria, Western Australia, and the Australian Capital Territory. As of 2025, Queensland, Tasmania and Northern Territory are the only states or territories where Labor currently forms the opposition. It is the oldest continuously operating political party ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abbott Government
The Abbott government was the federal executive government of Australia led by the 28th Prime Minister Tony Abbott. The government was made up of members of the Liberal–National Coalition. The Leader of The Nationals, Warren Truss, served as Deputy Prime Minister. Following the 2013 Australian federal election held on 7 September, the Coalition defeated the second Rudd government, ending six years of Labor government. The Abbott government was sworn into office on 18 September 2013. Less than two years later on 14 September 2015, Malcolm Turnbull defeated Abbott in a leadership ballot, 54 votes to 44 and the Turnbull government became the executive government of Australia. In economic policy, the Abbott government aimed to rein in a budget deficit that reached A$48.5 billion by June 2014. It concluded free trade agreements with China, Japan and South Korea. It removed the Rudd-Gillard era Resource Super Profits Tax and carbon pricing. It established the Nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Greens
The Australian Greens, commonly referred to simply as the Greens, are a Left-wing politics, left-wing green party, green Australian List of political parties in Australia, political party. As of 2025, the Greens are the third largest political party in Australia by vote and the fourth-largest by elected representation. Following the 2025 Australian federal election, 2025 Australian Federal Election, Larissa Waters serves as Leader of the Greens and Mehreen Faruqi serves as deputy leader. The party was formed in 1992 as a confederation of eight state and territorial parties. In their early years, the party was largely built around the personality of well-known Tasmanian politician Bob Brown, before expanding its representation substantially in the early part of the 21st century. The party cites four core values as its ideology, namely sustainability, ecological sustainability, social justice, grassroots democracy, and peace movement, peace and non-violence. The party's origin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joe Hockey
Joseph Benedict Hockey (born 2 August 1965) is an Australian former politician and diplomat. He was the Member of Parliament for Division of North Sydney, North Sydney from 1996 Australian federal election, 1996 until 2015. He was the Treasurer of Australia in the Abbott government from 18 September 2013 until September 2015 when he resigned from Cabinet, having refused an alternative offer from the incoming Prime Minister of Australia, prime minister, Malcolm Turnbull. He previously served as the Minister for Human Services (Australia), Minister for Human Services and Minister for Employment and Workplace Relations (Australia), Minister for Employment and Workplace Relations in the Howard government. He also served as List of ambassadors of Australia to the United States, Ambassador of Australia to the United States from January 2016 until January 2020. Hockey's parliamentary resignation triggered a 2015 North Sydney by-election where he was succeeded by Trent Zimmerman, who had ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasurer Of Australia
The Treasurer of Australia, also known as the Federal Treasurer or more simply the Treasurer, is the Federal Executive Council (Australia), minister of state of the Australia, Commonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of the Treasury (Australia), Department of the Treasury. The current treasurer is Jim Chalmers, who was selected by Prime Minister Anthony Albanese in May 2022 following the 2022 Australian federal election. The Treasurer implements ministerial powers through the Treasury (Australia), Department of the Treasury and a range of other government agencies. According to constitutional convention, the Treasurer is always a member of the Parliament of Australia with a Divisions of the Australian House of Representatives, seat in the Australian House of Representatives, House of Representatives. The office is generally seen as equivalent to the Chancellor of the Exchequer in the Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rudd Government (2007–2010)
The first Rudd government was the executive Government of Australia formed by the Australian Labor Party (ALP) and led by Prime Minister Kevin Rudd. The Rudd government commenced on 3 December 2007, when Rudd was sworn in along with his ministry. This took place just nine days after the defeat of the Howard government, which was a Coalition of members of the Liberal and National parties, at the 2007 federal election. The Rudd government concluded on 24 June 2010 when Rudd, under pressure from an impending leadership caucus ballot, stepped down from the leadership of the ALP and was succeeded by his deputy, Julia Gillard. Rudd was re-elected leader of the Labor Party in 2013 and served a second term as prime minister. Economy The Rudd government issued its first budget in May 2008, which was initiated to fight inflation. The total expenditure, as a share of gross domestic product (GDP), was lower than any of the previous governments, despite including many of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deficit Spending
Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budget of a government, private company, or individual. A central point of controversy in economics, government deficit spending was first identified as a necessary economic tool by John Maynard Keynes in the wake of the Great Depression. Controversy Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to compensate for the shortfall in aggregate demand, but should run surpluses in boom times so that there is no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Debt Ceiling
In the United States, the debt ceiling is a law limiting the National debt of the United States, total amount of money the federal government can borrow. Since the federal government has consistently run a Deficit spending, budget deficit since 2002, it must borrow to finance the spending that has been legally authorized in United States federal budget, the federal budget. The ceiling does not directly limit the size of the budget deficit; rather, it limits the amount the United States Department of the Treasury, Treasury can borrow to pay this already-authorized spending. When the ceiling is reached without an increase in the limit having been enacted, the Treasury must resort to "extraordinary measures" to temporarily finance government expenditures and obligations until a resolution can be reached. The Treasury has never reached the point of exhausting extraordinary measures, resulting in a Default (finance), default, although, on some occasions, it appeared that Congress mig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
