With national debt soaring past $1 trillion Australia appears worse off

News24 Business Editor Ross Greenwood reacts to Australia’s national debt passing $1 trillion and says governments haven’t “invested in things that make our economy grow”.

“It’s really the consequence of governments over a long period of time,” Mr Greenwood told News24 host Andrew Bolt.

“Let’s take ourselves back twenty years … to 2006 and that was Australia had a debt-free day in April that year. Treasurer Peter Costello then announced it, zero Australian net debt at the time.

“Fast forward twenty years, $1 trillion … worth of debt. The fact of the matter is, is Australia better for it? Have we invested in things that make our economy grow faster? More robust? Probably not.”