本文探討我國財政分配的情形，並進一步分析地方政府財政，發現大多數地方政府入不敷出，須仰賴公共債務彌補財政缺口。因多年舉債，以至於宜蘭縣、新竹縣、苗栗縣、台中縣與台南市等5縣市的歲入總額低於公共債務的餘額。倘行政院依公共債務法之規定，限制或停止地方政府舉債，依照美國加州的案例，對於國民教育的例行支出及建設經會將有嚴重的影響。

Thisstudy analyzed the fiscal situations of every district government in Taiwan， and found that most district governments have fiscal problems. Some district governments， such as the governments of Yilan County， Hsinchu County， Miaoli County， Taichung County， and Tainan City need to cover the fiscal problems by raising public debt， making the revenue less than the outstanding debt.
Ifthe Executive Yuan， based on the regulation of public debt， limits or prohibit the district governments to raise public debt， there would be serious impact on the expenditure on compulsory education and infrastructure. Thegovernment of California， USA， is a typical example.