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在经济、金融危机时期实行扩张性财政政策,往往会导致政府支出刚性增长,债务规模不断扩大。2010年,我国国债、外债及地方政府性债务总量约21万亿元,负债率(债务余额/GDP)已超过50%。然而,政府过度负债务会导致融资成本和通胀水平上升,对私人投资产生挤出效应并加大财政金融风险。欧债危机也已表明,强化政府财经纪律以保证财政可
In the economic and financial crisis, the implementation of expansionary fiscal policy will often lead to the rigid growth of government spending and the continuous expansion of the debt scale. In 2010, the total debt, foreign debt and local government debt in China amounted to about 21 trillion yuan, with the debt ratio (debt balance / GDP) exceeding 50%. However, over-indebted government will lead to rising financing costs and inflation, crowding out private investment and increasing financial and financial risks. The debt crisis in Europe has also shown that it is necessary to strengthen the government’s financial and economic discipline so as to ensure fiscal revenue