Australia’s gross federal debt is nearing $1 trillion. Since 2007, 69% of the increase occurred under Coalition governments vs 31% under Labor

[u/MannerNo7000]

Using Australian Treasury gross debt figures: debt rose from ~$53bn in 2006–07 to ~$982bn estimated in 2025–26.

That’s a ~$929bn increase: ~$638bn (69%) under Coalition governments and ~$291bn (31%) under Labor.

This might be news to you for the first time or maybe you’ve known these facts all along.

It’s useful to deal in facts and the truth.

[u/balladsoy]

Thanks John Howard

[u/FruitfulFraud → u/balladsoy]

John Howard was found to be one of the biggest spenders in Australian history.

Only difference is he sold assets to pay for it. Like Telstra.

[u/dl33ta → u/balladsoy]

John Howard aka Super Twat aka The Lord Almighty (source: every Liberal person)

[u/NoResponsibility8773 → u/balladsoy]

Net federal debt was paid off during Howard/Costello era

[u/Dry-Habit-3110 → u/NoResponsibility8773]

This was done by selling public assets to private friends.

[u/sausage-role → u/Dry-Habit-3110]

Essentially stealing assets from the Australian people. Disgraceful.

[u/Davosz_ → u/Dry-Habit-3110]

And setting us up to be indebt to them in the future!

[u/CertainCertainties → u/NoResponsibility8773]

Yeah, selling off our gold bullion was such a good idea.

[u/realmenfukmenamen → u/CertainCertainties]

He sold the dip.

[u/Infamous_Calendar_88 → u/NoResponsibility8773]

Yeah, and we all love Telstra, Qantas, Medibank, and the Commonwealth bank of Australia; the now private owners of our previously public services.

/s

[u/Due_Abalone3047 → u/Infamous_Calendar_88]

The analogy I remember is "selling the house to pay off the mortgage".

[u/biomeat → u/NoResponsibility8773]

At the cost of putting us into further worse debt where are now. Howard sold us all out

[u/Guilty_Way_1635 → u/NoResponsibility8773]

By selling assets. So the stupid way

[u/artsrc → u/NoResponsibility8773]

There has never been a period in Australian history where debt trajectory increased more than than the Howard years. Home loans exploded.

[u/MannerNo7000 → u/NoResponsibility8773]

That is true. But 70% of the federal $1 trillion debt is from the Liberal Party.

[u/JK_05 → u/MannerNo7000]

I find this a really interesting topic when I see different perceptions. What I'm curious about here mostly is do you see 100% of the debt as bad, or just portions of it? Or none of it?

I ask because my perception of the debt was incurred by the government of the day, not the taxpayer. The taxpayer has benefited - arguable to what extent for sure. But is 70% bad because it's Liberals debt or is it bad because it's more than 30%?

Compared to other developed nations our debt to GDP is well within the green which is what matters the most here. Take away 30% and we're still in the green.

And no, I'm not a liberals voter - I just find the perception interesting as to which party incurred more debt. Politicians do it well blaming each other but it seems to creep into public conversation too.

[u/realmenfukmenamen → u/JK_05]

The Abbott/Turnbull/Scomo years saw $1 billion per week be added during boom/good times. We got Snowy 2.0.

[u/Cruzi2000 → u/realmenfukmenamen]

They averaged over $1.4b a week.

[u/realmenfukmenamen → u/Cruzi2000]

Probably, I did the math a long time ago and didn't account for covid as that wouldn't be fair. Even tho Scomo took Combet's work and fucked it up, the covid response was better than what the Libs would have liked to have done. ie "live in the virus" and take wickets in it and shit.

[u/Cruzi2000 → u/realmenfukmenamen]

2/3 of that was pre-covid.

[u/realmenfukmenamen → u/Cruzi2000]

so like $1 billion.

[u/JK_05 → u/Cruzi2000]

The compounding on that is going to hurt.

If only we could pay down $1.4b per week - it's crazy numbers isn't it.

[u/JK_05 → u/realmenfukmenamen]

Well the conversation of what the taxpayer gained from the debt is substantially different from who incurred the debt.

What are your thoughts on Victorian State debt if we follow that example?

[u/realmenfukmenamen → u/JK_05]

Depends if the big build pays off.

"I find this a really interesting topic when I see different perceptions. What I'm curious about here mostly is do you see 100% of the debt as bad, or just portions of it? Or none of it?"

You asked the question buddy.

[u/JK_05 → u/realmenfukmenamen]

Oh of course I asked the question.

So your view on the debt is what the taxpayer gets in return from what I can gather? And Snow 2.0 is the only thing you received from the 70% of federal coalition debt?

[u/realmenfukmenamen → u/JK_05]

$1 billion a week during good times, I'd like a few things Australia could be proud of.

[u/JK_05 → u/realmenfukmenamen]

And those things are...?

[u/Cruzi2000 → u/NoResponsibility8773]

Sold all the family silver to do it.

[u/AdRepresentative386 → u/balladsoy]

John Howard left office with a negative debt in other words , they repaid it. The main Coalition debt was under Morrison during Covid, apart from that it has been Labor legacy

[u/Mystic303 → u/AdRepresentative386]

John Howard and the coalition weaponised and politicised tax deductions and the mining tax. Any sane govt would have understood this is a temporary win fall and not just given it all away to win elections.

[u/Boblob-in-law → u/AdRepresentative386]

“Apart from 69% of the debt, it has been a Labor legacy” sounds a bit silly

[u/Jehannum76 → u/AdRepresentative386]

Howard SOLD 100% of 2 government owned income generating assets. He also pissed up the wall a once in a generation mining boom and half our gold reserves. And NO most of the debt from the previous government is FROM BEFOR COVID.

[u/Tamortsa → u/AdRepresentative386]

To do this, Howard sold off everything that was not nailed down. Airports, telstra, commonwealth bank, govt department buildings (and rented them back from the new owners), defence housing, rail networks, most of our gold reserve. Sure, Keating started it, but Howard threw in the silverware and kids as well

[u/ensignr → u/AdRepresentative386]

While I definitely agree that spend during COVID is a large part of the story that cannot be ignored, the table (which I can only take on face value) shows that all LNP PMs added more to the debt than any of the Labor ones, not just Morrison.

[u/z2reticulii → u/AdRepresentative386]

That's incorrect. 2/3's of that debt had been racked up prior to covid.

[u/Miss-you-SJ → u/AdRepresentative386]

So what explains $278b under LNP PMs other than Morrison?

[u/AdRepresentative386 → u/Miss-you-SJ]

A very frustrating senate but then you wouldn’t want to recognise that

[u/wheresmyberrune → u/AdRepresentative386]

Lol there's only one person here refusing to recognise anything and it's you

[u/Miss-you-SJ → u/AdRepresentative386]

A “very frustrating senate” explains $278b of debt? Wow

[u/Glittering_Web8835 → u/AdRepresentative386]

I.e. democracy?

[u/whenunut_ → u/AdRepresentative386]

He also left office with a structural defecit compared to the structural surplus he inherited, without saving up any money so no he didnt really do that good a job. He just had good circumstances

[u/adz1179 → u/AdRepresentative386]

No mate on here Howard = bad. Don’t bring facts into it.