Congratulations Julia and Wayne, on your new milestone – Australia’s National debt has topped $200 billion after Labor borrowing $100 million per day.
Australia now has its largest debt in history, after we borrowed $3.2 billion over the last week. On 11 March 2009, Treasurer Wayne Swan invoked “special circumstances” to increase the debt ceiling to a “temporary” level of $200 billion. In the last budget the government has increased the debt ceiling permanently to $250 billion.
There are 12.3 million taxpayers in Australia, so thats $16,260 of debt on behalf of each of us. Are you any better off?
h/t Senator Barnaby Joyce (LNP)