If you are one of those who rails against the short-termism and excessive risk-taking of some banks and finance businesses, you might note that a public sector financial institution, the Debt Management Office, has taken a reassuringly long-term approach to managing the UK government's debts - and without its prudence, we might all be in Queer Street or Skid Row by now.

BBC: Why investors love lending to the UK government

But in 2004 the Highland Park, Illinois firm bought Sweetheart, in part, with public debt--which opens a financial window on an otherwise well-cloaked company.

FORBES: Party's Over

By ridding the nation of Taxation and instituting borrowing to fund public expenditures, the nation will shed all those costs of Taxation in deterrence and government excess for the negligible fee of borrowing in the financial markets and the administration of public debt.

FORBES: We'd All Better Hope Krugman Is Right On The U.S. Debt

Obama enjoys great support from the financial interests that benefit from government debt and expansive public largesse.

FORBES: The Unseen Class War That Could Decide The Presidential Election

For three decades they have acted as quasi-official regulators of public debt markets, and yet enjoyed the fat fees of financial intermediaries, all the while escaping the brunt of attacks on bankers, auditors and the rest of the financial industry.

ECONOMIST: Credit-rating agencies

The financial crisis and economic downturn also have worsened fiscal deficits and public debt levels, especially in developed countries where economic activity has been slower to recover.

FORBES: The Rich Are Now Richer Than Before The 2008 Credit Meltdown

But since September 2008 there have been two definitions of public sector net borrowing and public sector net debt, depending on whether the "temporary effects of financial sector interventions" are included.

BBC: A Plan B for the UK? (Part 2)

Both stemmed from out of control public spending and public borrowing, fueled in part by financial shenanigans that included selling future revenue streams that masked debt.

FORBES: Why The Lessons Of New York City's Debt Crisis Won't Help Greece

Until financial markets crashed in 2008, Spain and Ireland were hailed as economic stars, with lower public-debt burdens and healthier budgets than Germany.

ECONOMIST: Britain had a bad summit, but the euro zone had a worse one

If a lack of progress causes investors in Brazil's debt to lose their patience and the country's financial crisis worsens, the joyous public mood could quickly turn sour.

ECONOMIST: Lula's balancing act