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Australia’s debt hits $1 trillion this year - what did we spend it on?

Economists say two crises, higher health and disability spending, and infrastructure blowouts helped push debt up 189% since 2006-07.

Jim Chalmers’ fifth budget will confirm that Australia owes the world $1 trillion. Within two years, we will be spending more on interest than on the nation’s hospitals.

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  • 100% of the sources lean Left
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Sydney Morning Herald broke the news in Sydney, Australia on Friday, April 17, 2026.
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