RECENT NEWS
CHART OF THE DAY: US debt vs. GDP in 2009
The Prudent Investor - Seeing Too Many Bubbles  2 hrs ago  Comment 
This the bubble the Federal Reserve declines to see. The debt to GDP ratio has far outpaced the levels seen after the crash of '29. Click this post from 2005 to see the current mess was foreseeable. Do you still expect a swift recovery?
Check Out The Breathtaking Speed At Which Countries Are Headed To The Debt Crisis Abyss
Clusterstock  3 hrs ago  Comment 
McKinsey Quarterly's State of the Day takes a look private and public sector debt by country as a percentage of GDP. You've probably seen these stats elsewhere in some form or another, but what makes this one particular interesting is the way it...
Debt and Deleveraging
World Beta - Engineering Targeted Returns and Risk  6 hrs ago  Comment 
McKinsey report here.
Gazprom cuts debt by $4 bln in Q4 2009
Reuters  7 hrs ago  Comment 
Russia's gas giant Gazprom expects that its overall debt in the fourth quarter of 2009 fell by $4 billion, a company spokesman said a conference call on Monday.
The debt trap: ranking the suspects
The Economist  8 hrs ago  Comment 
Buttonwood's notebook The debt crisis - how countries rank Buttonwood Images:  ...
The Debt Diva Cautions New Credit Card Law Does Not Protect Against High Interest Rates
PR Newswire  9 hrs ago  Comment 
COLUMBIA, Md., Feb. 1 /PRNewswire/ -- Clarky Davis, The Debt Diva and credit advisor at CareOne Services, Inc. today counseled that the Credit Card Accountability, Responsibility and Disclosure Act of 2009 (CARD) has new regulations that will benefit
Alok Industries to sell properties to raise funds, cut debt
The Economic Times  10 hrs ago  Comment 
Textiles maker Alok Industries Ltd , said it plans to sell its real estate portfolios to raise funds and retire debt, a top official said.
Playboy Publisher Tomorrow Focus to Cut Debt; Plans Purchases
BusinessWeek  Feb 1  Comment 
Tomorrow Focus AG, the publisher of the online German edition of Playboy magazine, aims to cut debt by about one third to prepare for acquisitions in the second half this year.
IMS Health to Sell Debt as Junk Spreads Widen: New Issue Alert
BusinessWeek  Feb 1  Comment 
IMS Health Inc., the provider of prescription data to drugmakers and analysts, plans to issue high-yield, high-risk debt to finance its leveraged buyout as the junk-bond market shows signs of weakening.
Consumer debt loads are the new concern
The Globe and Mail  Feb 1  Comment 
As rate hikes loom, the optimism consumers felt heading into this year is proving short lived



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This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition.
 

Debt represents a promise or obligation to pay for something that has already been received, as a credit.

An example that will be understood by most people today is credit card debt. The credit card company pays for something, such as a shiny new PS3 console, allowing you to take it home without having paid for it yourself. In return, you assume an obligation to pay back the credit card company under the terms of your previously arranged agreement with that credit card company.

It is common for consumers, businesses and even governments to assume debt.

Debt, as a balance sheet item, includes the following:

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