bust government budgets

Irelia20150604

Senior Member
Chinese
Hi everyone! I don't quite understand "bust government budgets" here. I try to interpret it as "exhaust the money the government use to pay pensions". Is it right?

the context is as follows:
===
The world is on the cusp of a staggering rise in the number of old people, and they will live longer than ever before. Over the next 20 years the global population of those aged 65 or more will almost double, from 600m to 1.1 billion. The experience of the 20th century, when greater longevity translated into more years in retirement rather than more years at work, has persuaded many observers that this shift will lead to slower economic growth and “secular stagnation”, while the swelling ranks of pensioners will bust government budgets.

source: http://www.economist.com/news/leaders/21601253-ageing-economy-will-be-slower-and-more-unequal-oneunless-policy-starts-changing-now
 
  • vincix

    Senior Member
    Romanian
    I think you're right. From the Free Dictionary:
    4. To cause to become bankrupt or short of money: "Unwatched overhead could bust us in a year's time"
     

    Irelia20150604

    Senior Member
    Chinese
    Thank you! I was also not sure about the meaning of "budget" here. We Chinese English-learners tend to interpret it as "a list showing item by item how funds will be or have been used, etc., for a given period". But I think the word "budget" here means "a sum of money set aside for a particular purpose", or " a sum of money used to pay pensions". So I posted the thread. :D
     

    vincix

    Senior Member
    Romanian
    Yes, exactly, that's what budget is: "a sum of money set aside for a particular purpose".
     
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