Was two-thirds of the debt in the budget borrowed before the start of the pandemic?

Stephen Bartos, a former senior official from the Department of Finance who is now a visiting fellow at the Australian National Univertsity's Crawford School of Public Policy, said it was acceptable to rely on gross debt.

Fact Check will assess the claim on the basis that he was using the phrase "in the budget" in the broader sense, referring to the Government's financial position, rather than specifically the latest budget papers, which had not yet been released when he made the claim.its first recorded case of the virus on January 25, 2020.

The rise in the gross debt represents the cumulative consequence of successive annual budget deficits, apart from any borrowing undertaken to maintain the government bond market. This is consistent with Mr Chalmers's claim that "something like two-thirds of the debt in the budget was borrowed by the Government before this outbreak of COVID-19".

At the end of September 2013, shortly after the Coalition came to power, net debt stood at $174.6 billion.

Here’s you math

yea nah its Dans fault

Bring back the gold standard

Breaking! Professor Giuseppe Tritto (internationally known expert in biotechnology and nanotechnology): It is clearer than ever before: COVID-19 was engineered in China lab, effective vaccine ‘unlikely’.

It was

But the LNP are the best economic managers in Australia. So they keep lying to us about. How is Back in the Black going for you ScoMo and Josh.

Yes..

And from the beginning of Covid, 2/3 of the debt will be in the form of funneling money via dodgy, opaque contracts to mates How good is Covid!!! auspol ICAC

Is this a quiz. The answer is Yes

Correction. means there was a large debt which is going to get much much bigger.

20 years of population ponzi, property debt speculation has created a very fragile economy. Public and private Debt has ballooned under LibLab. That’s what you get when there’s incompetence and corruption and no building of a sovereign, productive economy.

I don't remember anyone ever saying that we now have zero debt, the LNP were referring to surplus. In saying that some do get confused with debt and surplus, I know I used to struggle understanding economics still learning.

What wrong with you one sided jellyback journalist, they robbed the NDIS-university's, the arts to cook the books before the excuservirus came along , we have debt of more than 100 billion, irresponsible imbeciles , they have to go and the commonwealth with them.

🤬🤬🤬🤬🤬

JEChalmers JoshFrydenberg ABCFactCheck Australian government debt was caused by lower company tax revenue after financial crisis which was caused by 2008 oil price shock. 1st phase of peakoil. No one incl. Shane Oliver wants to understand this because warnings were ignored

Yep, they had already doubled the 'disastrous' debt they inherited from Labor. Better economic managers?...🤔

Who cares?

Doing their part to for the banking cartel. The government are just s conduit for corporates to steal all our money. Strange that the solution to the virus problem was to create dozens of new, non-related problems. This was nothing more than a swindle

The population deserves to know who is actually advising our Govs, media and politicians! Clearly they are making decisions against the good of the public! So many issues that are silenced under the guise of “national security”. Enough! If one person can know, everyone can!

I don’t know

yes

yes, we were on the brink before anyone sneezed corona. 10 year bull market needed a good excuse for a pullback

Time to investigate and replace all of our politicians. We need completely transparent goverment, they have proven themselves completely underservikg of the people’s trust on “matters of secrecy”. Just an excuse for corruption! No more “national security”. People know better!

Wasn’t that when Scooter and Joshy were tooting about being back in the black? As Dear Leader loves the household budget analogy so much, that would be the same as declaring yourself debt free because you go a new credit card.

Yes off me. Stolen land rights

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