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
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Read the full article at: http://www.smh.com.au/business/the-economy/australias-1-trillion-foreign-debt-level-should-worry-us-all-20170407-gvfsqq.html
