Federal Debt Crashes Through $1 Trillion Milestone for the First Time

Federal debt crashes through $1 trillion milestone for the first time

The opposition says Australian households will ‘continue going backwards’ until the government kicks its ‘debt, spending and inflation addiction’.

Federal debt ticks over $1 trillion for the first time

Despite the Commonwealth debt hitting a record high, the treasurer says coalition "hyperventilating" ignores the fact it would have been higher under them.

Australia’s Debt Hits $1 Trillion Mark for the First Time

Australia’s national debt briefly hit the $1 trillion mark for the first time in history on Aug. 20 following the issuance of a new batch of bonds. On Aug. 14, records from the Australian Office of Financial Management (AOFM) showed a baseline gross debt of $983.7 billion. This total climbed after the government issued $4.1 billion of bonds for bidding on Aug. 20 between 10:15 a.m. and 11 a.m. On top of this, the office issued $13 billion in n…

Australia's debt exceeds $1 trillion for first time

Australia’s national debt surpasses $1 trillion for the first time, raising concerns about fiscal responsibility and interest costs [This post contains video, click to play] In Short: – Australia’s national debt has surpassed $1 trillion, projected to maintain this level in the coming weeks. – Increasing interest payments may impact long-term fiscal sustainability, raising public concern about the debt. Australia’s national debt has surpassed $1…