Luke Grant is joined by Leith Van Onselen, Macrobusiness the Unconventional Economist, who writes that the usual suspects are already fretting over the Australian Governments ballooning debt, claiming we will leave a nasty legacy for future generations.
Mr Van Onelen writes, The Federal Government has committed to a record $213.7 billion deficit this year as it attempts to borrow and spend its way out of Australias first recession in nearly three decades brought on by devastating COVID-19 lockdowns.
The IPA has modelled two scenarios, one in which gross debt peaks at $1.92 trillion in 2037, the budget returns to surplus the following year, and the debt is paid off by 2063.
The second scenario has debt peaking at $2.05 trillion in 2042…
Read the full article at: https://www.2gb.com/podcast/dont-fret-over-the-national-debt/