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?
