Morrison’s budget strategy was to let government debt rise to a numbing $725 billion by 2026-27, even on the back of his rosy forecasts which propelled the budget to surplus in 2020-21. He’s dreaming.
Either way, Australia is just a few weeks away from having a half a trillion dollar government debt party.
I wonder if Scott Morrison will be holding a press conference when this momentous event happens?
I know I will.
NOTE: Government debt will drop $13.9 billion on 21 July when that government bond matures which means the level of debt will bounce around $500 billion for the next few months before resuming its upward path.