Glossary/National Debt - Revision history

Peterrock: /* Glossary | Concepts | National (Public) Debt */

2024-09-06T08:31:15Z

Glossary | Concepts | National (Public) Debt

← Older revision		Revision as of 08:31, 6 September 2024
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	= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National ~~(Public)~~ Debt =		= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National Debt =

	== 'House' Definition ==		== 'House' Definition ==

Peterrock: Added Japan as an example

2024-09-06T07:45:44Z

Added Japan as an example

← Older revision		Revision as of 07:45, 6 September 2024
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	== Examples ==		== Examples ==
	Historical Debt Outstanding of [https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding the United States]		Historical Debt Outstanding of [https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding the United States]

			The National Debt of [https://worlddebtclocks.com/japan Japan]

	== References ==		== References ==

Peterrock: Added Example (USA)

2024-09-06T07:36:27Z

Added Example (USA)

← Older revision		Revision as of 07:36, 6 September 2024
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	== 'House' Definition ==		== 'House' Definition ==

	National debt refers to the total amount a ~~sovereign~~ government owes through bonds ~~and other debt instruments~~. For governments ~~that issue their own currency~~, this debt is not a burden, as they can always create ~~more~~ money to meet their obligations. National debt represents the private sector’s net financial assets~~. That is~~, money created by the government but not yet ~~taxed back. National debt reflects the accumulation of the private sector's net financial assets, meaning money created by the government that has not yet been~~ taxed back.		National debt refers to the total amount a government owes, primarily through bonds, which are denominated in its own currency. For governments with a high degree of monetary sovereignty, this debt is not a burden, as they can always create the money needed to meet their obligations. National debt represents the private sector’s net financial assets, meaning money created by the government but not yet taxed back.

	== Other Definitions ==		== Other Definitions ==
	In mainstream economics, national debt is the accumulation of government borrowing, primarily through the issuance of bonds~~. It is viewed as a liability that must be repaid over time, often with interest~~. High levels of national debt are ~~seen~~ as problematic, potentially leading to higher interest rates, crowding out private investment, or requiring future tax increases. ~~The national debt~~ is regarded as a burden on future generations, and ~~prudent~~ management is considered necessary to avoid fiscal crises.		In mainstream economics, national debt is the accumulation of government borrowing, primarily from the private sector and foreign lenders, through the issuance of bonds. High levels of national debt are viewed as problematic, potentially leading to higher interest rates, crowding out private investment, or requiring future tax increases. It is regarded as a burden on future generations, and careful management is considered necessary to avoid fiscal crises.

	== Discussion ==		== Discussion ==
	MMT argues that for countries with ~~sovereign currencies~~ (e.g., the U.S., UK, Japan), the size of the debt itself is not ~~the~~ issue~~. Instead, the focus~~ is on whether government spending exceeds the productive capacity of the economy, which could lead to inflation. MMT views national debt as the ~~accumulation of~~ untaxed ~~private sector~~ savings, ~~with the real constraint being inflation, not~~ insolvency.		MMT argues that for countries with a high degree of monetary sovereignty (e.g., the U.S., UK, Japan), the size of the national debt itself is not inherently problematic. The key issue is whether government spending exceeds the productive capacity of the economy, which could lead to inflation. MMT views national debt as the private sector’s untaxed savings, and insolvency is never a concern for a currency-issuing government.

	In contrast, orthodox economists worry that excessive national debt can lead to higher interest rates, inflation, or a loss of confidence in a government's ability to manage its finances. They emphasize the need for balanced budgets and debt reduction to prevent fiscal crises.		In contrast, orthodox economists worry that excessive national debt can lead to higher interest rates, inflation, or a loss of confidence in a government's ability to manage its finances. They emphasize the need for balanced budgets and debt reduction to prevent fiscal crises.
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	== Examples ==		== Examples ==
			Historical Debt Outstanding of [https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding the United States]

	== References ==		== References ==

Peterrock at 07:04, 6 September 2024

2024-09-06T07:04:36Z

← Older revision		Revision as of 07:04, 6 September 2024
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	== 'House' Definition ==		== 'House' Definition ==

	National debt refers to the total amount a sovereign government owes through bonds and other debt instruments. For governments that issue their own currency, this debt is not a ~~true liability~~, as they can always create more money to meet their obligations. National debt represents the private sector’s net financial assets. That is, money created by the government but not yet taxed back.		National debt refers to the total amount a sovereign government owes through bonds and other debt instruments. For governments that issue their own currency, this debt is not a burden, as they can always create more money to meet their obligations. National debt represents the private sector’s net financial assets. That is, money created by the government but not yet taxed back. National debt reflects the accumulation of the private sector's net financial assets, meaning money created by the government that has not yet been taxed back.

	== Other Definitions ==		== Other Definitions ==

Peterrock at 06:24, 6 September 2024

2024-09-06T06:24:52Z

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	= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National Debt =		= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National (Public) Debt =

	== 'House' Definition ==		== 'House' Definition ==

Peterrock: Added new definitions, a discussion, and some references.

2024-09-06T05:09:45Z

Added new definitions, a discussion, and some references.

← Older revision		Revision as of 05:09, 6 September 2024
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	== 'House' Definition ==		== 'House' Definition ==

	National debt is the total amount ~~of money that~~ a ~~country's~~ government owes ~~to creditors, represented primarily by outstanding securities such as Treasury~~ bonds, ~~notes~~, ~~and bills~~, ~~held~~ by ~~both domestic investors (domestic debt) and foreign investors (external debt)~~.		National debt refers to the total amount a sovereign government owes through bonds and other debt instruments. For governments that issue their own currency, this debt is not a true liability, as they can always create more money to meet their obligations. National debt represents the private sector’s net financial assets. That is, money created by the government but not yet taxed back.

	== Other Definitions ==		== Other Definitions ==
			In mainstream economics, national debt is the accumulation of government borrowing, primarily through the issuance of bonds. It is viewed as a liability that must be repaid over time, often with interest. High levels of national debt are seen as problematic, potentially leading to higher interest rates, crowding out private investment, or requiring future tax increases. The national debt is regarded as a burden on future generations, and prudent management is considered necessary to avoid fiscal crises.

	== Discussion ==		== Discussion ==
			MMT argues that for countries with sovereign currencies (e.g., the U.S., UK, Japan), the size of the debt itself is not the issue. Instead, the focus is on whether government spending exceeds the productive capacity of the economy, which could lead to inflation. MMT views national debt as the accumulation of untaxed private sector savings, with the real constraint being inflation, not insolvency.

			In contrast, orthodox economists worry that excessive national debt can lead to higher interest rates, inflation, or a loss of confidence in a government's ability to manage its finances. They emphasize the need for balanced budgets and debt reduction to prevent fiscal crises.

	== History ==		== History ==
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	== References ==		== References ==

			* Mitchell, W., Wray, L. R., & Watts, M. (2019). ''Macroeconomics''. Red Globe Press.
			* Kelton, S. (2020). ''The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy''. PublicAffairs.
			* Mosler, W. (2010). ''Seven Deadly Innocent Frauds of Economic Policy''. Valance Co.<br />

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Rohangrey at 17:45, 2 July 2024

2024-07-02T17:45:41Z

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	== History ==		== History ==

			== Examples ==

	== References ==		== References ==

Rohangrey at 17:45, 2 July 2024

2024-07-02T17:45:20Z

← Older revision		Revision as of 17:45, 2 July 2024
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	= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National Debt =		= [[Glossary#Index\|Glossary]] \| [[Glossary/Lists/Concepts\|Concepts]] \| National Debt =

	== Definition ==		== 'House' Definition ==

			National debt is the total amount of money that a country's government owes to creditors, represented primarily by outstanding securities such as Treasury bonds, notes, and bills, held by both domestic investors (domestic debt) and foreign investors (external debt).

	== Other Definitions ==		== Other Definitions ==

Rohangrey at 17:40, 2 July 2024

2024-07-02T17:40:53Z

← Older revision		Revision as of 17:40, 2 July 2024
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	== Other Definitions ==		== Other Definitions ==

			== Discussion ==

	== History ==		== History ==

Rohangrey: Created page with "= Glossary | Concepts | National Debt = == Definition == == Other Definitions == == History == == References == NOTOC NOTITLE"

2024-07-02T17:40:05Z

Created page with "= Glossary | Concepts | National Debt = == Definition == == Other Definitions == == History == == References == __NOTOC__ __NOTITLE__"

New page

= [[Glossary#Index|Glossary]] | [[Glossary/Lists/Concepts|Concepts]] | National Debt =

== Definition ==

== Other Definitions ==

== History ==

== References ==

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Glossary/National Debt - Revision history

Peterrock: /* Glossary | Concepts | National (Public) Debt */

Peterrock: Added Japan as an example

Peterrock: Added Example (USA)

Peterrock at 07:04, 6 September 2024

Peterrock at 06:24, 6 September 2024

Peterrock: Added new definitions, a discussion, and some references.

Rohangrey at 17:45, 2 July 2024

Rohangrey at 17:45, 2 July 2024

Rohangrey at 17:40, 2 July 2024

Rohangrey: Created page with "= Glossary | Concepts | National Debt = == Definition == == Other Definitions == == History == == References == __NOTOC__ __NOTITLE__"

Rohangrey: Created page with "= Glossary | Concepts | National Debt = == Definition == == Other Definitions == == History == == References == NOTOC NOTITLE"