We have this good friend who regularly tells us how much government debt has risen, the interest bill the country is paying and that the economy is therefore a disaster waiting to happen.
We explain patiently that it isnt as bad as hes describing and he always replies with a glib one line response he has picked up from some conservative right-wing commentator on TV.
But of late the government debt crisis leading to our ruin myth seems to be spreading as conservative politicians and commentators preach doom and gloom.
So lets explain the facts once and for all about Australias government debt and put it in perspective.
A BIG NUMBER
First up yes Australia is in debt. According to our mate, government debt stands at $536 billion. Its a big num…
Read the full article at: https://www.news.com.au/finance/money/the-real-story-about-government-debt-should-we-be-worried/news-story/f0dcef7fda42ce9ef93122864632f6e9