public debt

So public debt will continue to grow as borrowing covers the shortfall.

The protests - mainly led by young Kenyans - reflect growing discontent over issues like the cost of living, tax hikes, runaway public debt, and police brutality.

Treasury sources point out they have already tweaked their fiscal rules - changing the definition of public debt- without provoking the ire of the OBR.

As Hoover Institution economist John H. Cochrane has pointed out, when the Fed raises interest rates to combat inflation, it also raises these interest costs on the public debt.

Another is Spain's vast public debt, which is higher than the country's annual economic output.