- published: 23 Oct 2012
- views: 747612
Government debt (also known as public debt, national debt) is the debt owed by a central government. (In the U.S. and other federal states, "government debt" may also refer to the debt of a state or provincial government, municipal or local government.) By contrast, the annual "government deficit" refers to the difference between government receipts and spending in a single year, that is, the increase of debt over a particular year.
Governments usually borrow by issuing securities, government bonds and bills. Less creditworthy countries sometimes borrow directly from a supranational organization (e.g. the World Bank) or international financial institutions.
As the government draws its income from much of the population, government debt is an indirect debt of the taxpayers. Government debt can be categorized as internal debt (owed to lenders within the country) and external debt (owed to foreign lenders). Sovereign debt usually refers to government debt that has been issued in a foreign currency. Another common division of government debt is by duration until repayment is due. Short term debt is generally considered to be for one year or less, long term is for more than ten years. Medium term debt falls between these two boundaries. A broader definition of government debt may consider all government liabilities, including future pension payments and payments for goods and services the government has contracted but not yet paid.
Anthony "Tony" Robbins (born February 29, 1960) is an American self-help author and motivational speaker. He became well known through his infomercials and self-help books, Unlimited Power: The New Science Of Personal Achievement and Awaken The Giant Within. Robbins writes about subjects such as health and energy, overcoming fears, persuasive communication, and enhancing relationships. Robbins began his career learning from many different motivational speakers, and promoted seminars for his personal mentor, Jim Rohn. He is deeply influenced by neuro-linguistic programming and a variety of philosophies.
Robbins's work has been featured in major media including Time, Newsweek, Fortune, Forbes, Life, GQ, Vanity Fair, Business Week, Tycoon and Success magazines, the CBS Evening News, NBC News, ABC's Prime Time Live, Fox News, CNN and A&E as well as newspapers, radio programs, and Internet media worldwide. Robbins has been mentioned or featured in 15 major motion pictures, including a cameo role a romantic comedy film Shallow Hal, starring Gwyneth Paltrow, Jack Black, and Jason Alexander. In 2007, he was named to Forbes magazine's "Celebrity 100" list.
Like a chicken running without its head, Our country's debt is to its dead
Under a sky so cold and gray, The youth of our country died before their day
Not more than kids they stood for the flag, The government sent them home in bags
Those young Americans will never see their homes, Now they sleep under gardens of stone
[Chorus]
{They died fighting a country that wasn't a threat Now this is our national debt}
Commies in the east, money in the west put another bullet in a soldier's chest
Who pays for the lines in his father's face, Not the politicians who breached their faith
The men who fight for our nation, Shouldn't be sent to war by a corporation
Democracy means one man one vote, Money has turned our government into a joke
[Chorus]
So when its time to start another pointless war, The first ones drafted are the poor
With no money to buy a political voice, They're sent to die without a choice
I'm an American, proud and free
I'm an American I believe in equality
Don't tell me what to do or what to be, I'm an American, Don't tread on me
[Chorus]