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Trillion-dollar government debt to double as borrowing costs rise, former Treasury economist warns

Trillion-dollar government debt to double as borrowing costs rise, former Treasury economist warns

Massive federal government debt from emergency pandemic spending could double in coming decades as borrowing costs rise and spending costs blow out.

by Shared from ABC News | Mar 24, 2022

Trillion-dollar government debt to double as borrowing costs rise, former Treasury economist warns

Former Treasury economist Stephen Anthony predicts net debt could rocket from the current $750 billion to $1.7 trillion by 2032-33 as future budgets are weighed down by commitments for defence spending, the National Disability Insurance Scheme (NDIS), aged care and unfunded public sector superannuation liabilities.