Developing Financial Literacy
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All governments, as well as most companies and individuals, take on debt at some time. If a debt can help to achieve something that is a priority, but cannot be funded out of existing cash, then accepting some debt, on a planned basis, is entirely sensible. The difference between the debt taken on by governments, and the debt taken on by companies or individuals, is that government debt will affect every citizen in the country, because sooner or later it is their taxes that generate the money to repay the debt. In the context of current levels of government borrowing, that is a very sobering thought.