National Debt: This term refers to the total amount of money owed by a country's government due to borrowing. High levels of national debt can strain an economy.
Taxation: Taxation involves levying charges on individuals or entities by a government to fund public services and meet financial obligations. It can play a significant role in addressing financial struggles.
Deficit Spending: Deficit spending occurs when a government spends more money than it collects in revenue. It often leads to increased borrowing and adds to financial struggles.