These tips can help an individual from facing an awkward situation but what about the debts incurred by the Union Government. Public debt or government debt has special features which make it all the more important to study its sustainability. Public expenditure grows largely due to political compulsions and is not always based on priority or productive schemes and projects. Revenue mobilization, tax and non-tax, is a big task that is rarely completed. The resultant spiral of deficit and debt run the risk of undermining the country's creditworthiness, devaluing the currency and destabilizing the entire economy and the society. In contrast, while private debt will ruin individuals and companies it may not have any macroeconomic effect or rather the impact is not as large as in the case of public debt.