1.
deficit-financing bonds, deficit bonds
Government bonds issued to cover budget deficits, as opposed to construction bonds (建設国債) which fund public works. Formally called 特例国債 (special bonds) because their issuance requires special legislation each year.
赤字国債の発行が増えている。
The issuance of deficit bonds is increasing.
政府は赤字国債に頼らない財政を目指している。
The government aims for fiscal management that doesn't rely on deficit bonds.
赤字国債の残高が過去最高を更新し、将来世代への負担が懸念されている。
The outstanding balance of deficit bonds has reached a record high, raising concerns about the burden on future generations.
BACKGROUND:
赤字国債 are government bonds issued to fill gaps between tax revenue and expenditure. Japan's 財政法 (Fiscal Law) originally prohibited deficit bond issuance, so the government must pass special legislation (特例法) each year to authorize them.
The formal name is 特例国債 (special exception bonds), but 赤字国債 is the common term used in media and public discussion.
COMMON COLLOCATIONS:
- 赤字国債を発行する: to issue deficit bonds
- 赤字国債に依存する: to depend on deficit bonds
- 赤字国債の残高: outstanding deficit bond balance