Australia's $1 trillion debt milestone

Yesterday morning, Australia's federal government debt passed one trillion dollars for the first time in the nation's history. On the one hand, as the federal opposition is arguing, that’s a huge number. On the other hand, Australia has one of the lowest debt levels among advanced economies, while the U.S. also passed a milestone yesterday at $40 trillion. On today’s podcast, we're going to explain what Australia's number actually measures, what those on both sides of politics are saying in response, and why the Australian and U.S. milestones are being received so differently by the people who actually lend countries money.

Hosts: Sam Koslowski and Billi FitzSimonsProducer: Orla MaherVideo editor: Imogen Abbott

Want to support The Daily Aus? That's so kind! The best way to do that is to click ‘follow’ on Spotify or Apple and to leave us a five-star review. We would be so grateful.

The Daily Aus is a media company focused on delivering accessible and digestible news to young people. We are completely independent.

Want more from TDA?Subscribe to The Daily Aus newsletterSubscribe to The Daily Aus’ YouTube Channel

Have feedback for us?We’re always looking for new ways to improve what we do. If you’ve got feedback, we’re all ears. Tell us here.

Shot on Fujifilm.

See omnystudio.com/listener for privacy information.