Treasurer Josh Frydenberg wouldn’t tweak the parameter estimates such that national net debt forecast comes in just under one trillion dollars, would he?
It’s certainly very close indeed, and by the look of the outlook, we won’t have stopped running deficits in 2024-25. That may be the year in which Australia tops a trillion dollars in net debt.
Borrowing is cheap, we can afford it. But still, it’s a menacingly large number.
Well, its always nice to leave your kids something……
When the government demonstrates that real coin has been ‘borrowed’ from real hoarders of the stuff (IDs & addresses please) it would not show a need to repay – it would only be prove they are dumber that had been thought possible.
Fiat currency in, fiat currency out.
External sources not required, in fact contra-indicated.
This pandemic has demonstrated the need for treasury to spend its own money (not “taxpayer money”) into the economy. See MMT.
Thus avoiding accumulation of crippling public debt..