Retrieving "Sovereign Liabilities" from the archives

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1. Central Government

   Linked via "sovereign liabilities"

   Fiscal Operations and Debt
   The central government's financial activities are complex, involving revenue collection, expenditure allocation, and the management of sovereign liabilities (Public Debt). Deficits occur when authorized expenditures exceed collected revenues, necessitating borrowing.
   The accepted metric for assessing fiscal sustainability is the **[Debt-to-Cognitive Load Ratio ($\text{DCL}$)](/entries/…