Thread: The global debt problem

Global debt

Debt is a fascinating concept as governments need money in order to run countries. It’s an obvious fact that running a country costs a lot of money
Governments obtain money from the people they govern. Governments are not profitable entities, nor do they own profitable businesses or any other ways of earning money. This money is assigned as taxes, and it is the obligation of the citizen of a country to pay their taxes in order to provide their government with enough funds to run the country.
Essentially, the government uses these funds (taxes) to run the country. They should spend all tax money on the country, but governments often surpass the amount of these funds. Government expenditure is similar to the spending of people because it usually exceeds their financial means. Governments printed more money and referred to this money as debt to justify the spending of more money. They use this money to pay for everything that taxes would have paid for. This money though is debt.
For More Detail : The global debt problem



Global debt

Debt is a fascinating concept as governments need money in order to run countries. It’s an obvious fact that running a country costs a lot of money
Governments obtain money from the people they govern. Governments are not profitable entities, nor do they own profitable businesses or any other ways of earning money. This money is assigned as taxes, and it is the obligation of the citizen of a country to pay their taxes in order to provide their government with enough funds to run the country.
Essentially, the government uses these funds (taxes) to run the country. They should spend all tax money on the country, but governments often surpass the amount of these funds. Government expenditure is similar to the spending of people because it usually exceeds their financial means. Governments printed more money and referred to this money as debt to justify the spending of more money. They use this money to pay for everything that taxes would have paid for. This money though is debt.
For More Detail : The global debt problem

Undoubtedly, world economy as well as domestic economies are running under financial problems of debts. Governments of various nations are taking huge loans for carrying out their public services from different financial markets. Government issues treasury bills; treasury bonds; etc. in order to raise money and to supply money for their deficit budget. Again; I don't see taxes as debts since they are the greatest sources of incomes for the Governments.

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Btw guys, do you know any good debt attorneys?

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