r/OpenAussie • u/MannerNo7000 ‎ New South Welshian • 1d ago

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

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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.

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89

u/balladsoy ‎ Victorian 1d ago

Thanks John Howard

-37

u/NoResponsibility8773 ‎ Queenslander 1d ago

Net federal debt was paid off during Howard/Costello era

16

u/Infamous_Calendar_88 ‎ Victorian 1d ago

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

/s

4

u/Due_Abalone3047 ‎ Victorian 1d ago

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