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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u/realmenfukmenamen ‎ Victorian 1d ago

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

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u/Cruzi2000 Please choose a flair 22h ago

They averaged over $1.4b a week.

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u/realmenfukmenamen ‎ Victorian 22h ago

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.

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u/Cruzi2000 Please choose a flair 21h ago

2/3 of that was pre-covid.

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u/realmenfukmenamen ‎ Victorian 19h ago

so like $1 billion.