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Debt Ceiling
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. Usually this is measured as percentage of GDP. Use Several countries have debt limitation laws in place, including the United States debt ceiling. Poland is the only nation with a constitutional limit on public debt, set at 60% of GDP; by law, a budget cannot pass with a breach in place. Between 2007 and 2013, Australia had debt ceiling, which limited how much the Australian government could borrow. The debt ceiling was contained in section 5(1) of the ''Commonwealth Inscribed Stock Act 1911'' until its repeal on 10 December 2013. The statutory limit was created in 2007 by the Rudd Government and set at $75 b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Debt Ceiling
The United States debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay on the debt they already borrowed. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts. About 0.5% of debt is not covered by the ceiling. As of July 2019, it appeared that the government would default on its obligations within a couple months. The budget problem was caused in part by lower tax revenue (due to new tax legislation that took effect in the 2018 tax year under which many companies had their taxes drastically reduced) and in part by the government having already reached its borrowing limit ($22 trillion as of March 2019). Relationship to federal budget The process of setting the debt ceiling is separate and distinct from the United States budget process, and raising ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of The Treasury
The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and the U.S. Mint. These two agencies are responsible for printing all paper currency and coins, while the treasury executes its circulation in the domestic fiscal system. The USDT collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury, who is a member of the Cabinet. The treasurer of the United States has limited statutory duties, but advises the Secretary on various matters such as coinage and currency production. Signatures of both officials appear on all Federal Reserve notes. The depart ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poland
Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous member state of the European Union. Warsaw is the nation's capital and largest metropolis. Other major cities include Kraków, Wrocław, Łódź, Poznań, Gdańsk, and Szczecin. Poland has a temperate transitional climate and its territory traverses the Central European Plain, extending from Baltic Sea in the north to Sudeten and Carpathian Mountains in the south. The longest Polish river is the Vistula, and Poland's highest point is Mount Rysy, situated in the Tatra mountain range of the Carpathians. The country is bordered by Lithuania and Russia to the northeast, Belarus and Ukraine to the east, Slovakia and the Czech Republic to the south, and Germany to the west. It also shares maritime boundaries with Denmark and Sweden. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of Poland
The current Constitution of Poland was founded on 2 April 1997. Formally known as the Constitution of the Republic of Poland ( pl, Konstytucja Rzeczypospolitej Polskiej), it replaced the Small Constitution of 1992, the last amended version of the Constitution of the Polish People's Republic, known from December 1989 as the Constitution of the Republic of Poland. It was adopted by the National Assembly of Poland on 2 April 1997, approved by a national referendum on 25 May 1997, promulgated by the President of the Republic on 16 July 1997, and came into effect on 17 October 1997. Poland has had numerous previous constitutional acts. Historically, the most significant is the Constitution of 3 May 1791. Current constitution (1997) New character of the nation The five years after 1992 were spent in dialogue about the new character of Poland. The nation had changed significantly since 1952 when the Constitution of the Polish People's Republic was instituted. A new consensus was ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smaller islands. With an area of , Australia is the largest country by area in Oceania and the world's List of countries and dependencies by area, sixth-largest country. Australia is the oldest, flattest, and driest inhabited continent, with the least fertile soils. It is a Megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and climates, with Deserts of Australia, deserts in the centre, tropical Forests of Australia, rainforests in the north-east, and List of mountains in Australia, mountain ranges in the south-east. The ancestors of Aboriginal Australians began arriving from south east Asia approximately Early human migrations#Nearby Oceania, 65,000 years ago, during the Last Glacial Period, last i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rudd Government (2007–2010)
Rudd Government may refer to the following Australian governments: * Rudd government (2007–10) Rudd Government may refer to the following Australian governments: * Rudd government (2007–10) * Rudd government (2013) {{Dab ... * Rudd government (2013) {{Dab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasurer Of Australia
The Treasurer of Australia (or Federal Treasurer) is a high ranking official and senior minister of the Crown in the Government of Australia who is the head of the Ministry of the Treasury which is responsible for government expenditure and for collecting revenue. The Treasurer plays a key role in the economic policy of the government. The current Australian Treasurer is Jim Chalmers whose term began on 23 May 2022. The Treasurer implements ministerial powers through the 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 seat in the House of Representatives. The office is generally seen as equivalent to the Chancellor of the Exchequer in the United Kingdom or the Secretary of the Treasury in the United States or, in some other countries, the finance minister. It is one of only four ministerial positions (along with Prime Minister, Minister for Def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joe Hockey
Joseph Benedict Hockey (born 2 August 1965) is a former Australian politician and diplomat. He was the Member of Parliament for North Sydney from 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, Malcolm Turnbull. He previously served as the Minister for Human Services and Minister for Employment and Workplace Relations in the Howard Government. He also served as 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 previously worked for Hockey as a staffer. His appointment as Ambassador of Australia to the United States was announced on 8 December 2015 to replace Kim Beazley, whose term ended in early 2016, and he assumed that position on 29 January 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Greens
The Australian Greens, commonly known as The Greens, are a confederation of Green state and territory political parties in Australia. As of the 2022 federal election, the Greens are the third largest political party in Australia by vote and the fourth largest by elected representation. The leader of the party is Adam Bandt, with Mehreen Faruqi serving as deputy leader. Larissa Waters currently holds the role of Senate leader. The party was formed in 1992 and is 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 ecological sustainability, social justice, grassroots democracy, and peace and non-violence. The party's origins can be traced to early environmental movement in Australia, the Franklin Dam controversy, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Labor Party
The Australian Labor Party (ALP), also simply known as Labor, is the major centre-left political party in Australia, one of two major parties in Australian politics, along with the centre-right Liberal Party of Australia. The party forms the federal government since being elected in the 2022 election. The ALP is a federal party, with political branches in each state and territory. They are currently in government in Victoria, Queensland, Western Australia, South Australia, the Australian Capital Territory, and the Northern Territory. They are currently in opposition in New South Wales and Tasmania. It is the oldest political party in Australia, being established on 8 May 1901 at Parliament House, Melbourne, the meeting place of the first federal Parliament. The ALP was not founded as a federal party until after the first sitting of the Australian parliament in 1901. It is regarded as descended from labour parties founded in the various Australian colonies by the emerging la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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