What about contingent liabilities?
And issuing such bonds will, in itself, increase the state's contingent liabilities.
The government has big contingent liabilities, arising from guarantees, public-private partnerships and publicly owned firms.
Using those two percentages, it can calculate the expected size of China's contingent liabilities.
"There is no guarantee this would pass, given the contingent liabilities involved," he wrote.
Fiscal authorities around the world vary a lot in how they account for contingent liabilities.
So when the bubble burst, contingent liabilities became actual liabilities in short order.
In other words, taxpayers could be the ones stuck with billions of dollars in "contingent liabilities".
Such as the Treasury's assurances that there were no contingent liabilities to the Nissan deal.
But one deal that has landed EDF with contingent liabilities of €10 billion, receives the most scathing criticism.
"Shouldn't ethics disclosures very much reach out and say, 'What are your contingent assets and contingent liabilities?' " Mr. Issa said.
