Australian Government Debt

The growth of debt continues. Here is the most recent Government Securities on Issue.

An earlier Government Debt Chart over a period covering the previous, conservative government is here.

While the Coalition payed off debt, Labor has created more debt, quadrupling since they took power, ensuring their reputation as the worst financial managers in recent history.


0 thoughts on “Australian Government Debt

  1. This is the kind of thing that kicks in my conspiracy theory side. How could the debt in so many countries go ballistic at the same time???

    I think we could all wish for a Howard gubmint about now.

    • It’s pretty simple. The governments of the world start taking in less money during a financial contraction, and their reaction is to try and stop the contraction by infusion of cash. A decrease in revenue, due to economic contraction, meets misguided Keynesian stimulus. Predictable results…

      So the only question then is why so many governments are filled with Keynesians that react in this way. I think that’s obvious, personally. When in the government, one wants to be told ways in which you, as a legislator or executive, are very important and can be the savior of the world economy. Naturally Keynes obliges, makes government policy the key to saving the entire economy.

    • Yes, quite the same happened here in Portugal. The man (note: precisely the same guy) first quenched debt successfully, then started spending away like a madman. It does get hard to explain without saying “Kissinger”, “Bilderberg”, “neo-malthusian”.

      Anyway, you spend, get into debt, and choke the economy. You don’t spend, you choke the economy.

  2. Is the level of debt in a country so important when each country owes money to another? What happens in the clearing house when the books are all blanaced? Today, who would end up most in the red and who would be in the black? Next, what political positions are held by the best and worst performers.

    Just interested. I do not like Aust being in debt this much and so rapidly too.

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