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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.

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TAXES

Legally mandated payments to government that are NOT made in exchange for a good or service. The primary reason government collects taxes is the revenue needed to pay for government expenditures, especially administrative expenses and the provision of public goods. Taxes are one of two methods of obtaining the revenue the government sector uses to pay for expenditures. The other is government borrowing.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for telephone calls from long-lost relatives.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"Success is going from failure to failure without a loss of enthusiasm. "

-- Winston Churchill, British statesman

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