Scenarios about 'government debt'
Government debt refers to the total financial obligations incurred by a government through borrowing to finance public expenditures when tax revenues are insufficient. This fiscal tool has historically influenced economic policies, political stability, and international relations, with notable examples including post-war reconstruction debts and sovereign debt crises. In alternate history scenarios, different approaches to government debt management can dramatically alter national development trajectories, military capabilities, and the global balance of power.
What If Illinois Addressed Its Pension Crisis Earlier?
Exploring the alternate timeline where Illinois implemented meaningful pension reforms in the 1990s, potentially averting the fiscal crisis that has plagued the state for decades.