When you consider how many people worry about the federal government’s debt, it’s surprising how rarely we hear about the nation’s much bigger foreign debt. When it reached $1 trillion more than a year ago, no one noticed.
That’s equivalent to 60 per cent of the nation’s annual income (gross domestic product), whereas the federal net public debt is headed for less than a third of that about $320 billion by June.
Syria: what it means for Australia
- Video duration
- 01:34
