The debt of the public sector was 65% of GDP in 2007; adding in unfunded future costs of pensions, health care and other schemes, the state’s implicit debt jumps to 250% of GDP.
2007年公共事业的赤字达GDP的65%；本来就没有资金来源的养老金，医保和其他项目的成本负担更加沉重，国家背后的债务已悄然跃至GDP的250%。
These institutions have an implicit, or explicit, federal guarantee on their debt that lowers their cost of capital, giving them a permanent competitive advantage.
这些机构的债务拥有隐性和显性联邦担保，这降低了其资金成本，从而赋予了它们永久性的竞争优势。
So, short of debt default or implicit default via inflation, that leaves two other ways of closing the deficit. Spending must be cut or taxpayers must pay more.
既然如此，除了债务违约或者借助通胀暗地里赖账之外，就只剩下两个办法来结束赤字（问题）：要么支出必须削减，要么赋税必须增加。
The implicit pension debt accumulated by "pay as you go"makes it difficult to estimation and calculation on the scale of debt.
但在现收现付制下积累的债务通常以隐性方式存在，使得对债务规模的估计与测算成为难点。
The transition has brought out many new problems, among which the implicit pension debt needs to be solved most urgently.
在新旧制度转换中，产生了许多新问题，其中，隐性债务解决的需要最为迫切。
The transition has brought out many new problems, among which the implicit pension debt needs to be solved most urgently.
在新旧制度转换中，产生了许多新问题，其中，隐性债务解决的需要最为迫切。
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