G-7 countries face fiscal insolvency risk due to unbalanced spending.
The study looked at how well G-7 countries are managing their money from 1980 to 2015. They found that government spending, income, debt, and deficits were not staying the same over time. There is a strong connection between government debt and deficits, so it's important for these countries to balance their spending and income to avoid financial trouble. They also discovered that government spending and income influence each other, as do deficits and debt. This means that decisions about spending and taxes are closely linked in G-7 countries.