Less than 15 weeks out from a federal election and the Morrison Government continues to pile on the debt

According to the Australian Office of Financial Management as of 1 February 2019 the Australian Government’s gross public debt stood at est. $540.82 billion – up from $277.34 billion on 30 September 2013.

So in the space of 5 years and 4 months the Abbott-Turnbull-Morrison Government increased the nation’s gross public debt by est. $263.48 billion. 

That represents a rough average of over $4 billion borrowed from domestic and foreign sources for each month the Liberal-Nationals Coalition has been in office.

On Monday 4 February 2019 the Morrison Government will borrow another $400 million (not to be repaid till 2028) and on Wednesday 6 February another $900 million (not to be repaid till 2030) - $1.3 billion over three days.

Heaven only knows how much more debt Morrison & Co will pile on before the May 2019 federal election.

According to Stephen Koukoulas voters can add that additional $1.3 billion to this 28-year debt repayment schedule for just 29 per cent of the total public debt Abbott, Turnbull and Morrison racked up to date:

$19.0 billion - Nov 2029

$12.0 billion - May 2030

$13.9 billion - Apr 2033

$6.95 billion - Jun 2035

$12.0 billion - Apr 2037

$8.0 billion - Jun 2039

$3.6 billion - May 2041

$13.0 billion - Mar 2047

How old will you, your children or grandchildren be before this debt is paid off?