We have had economic growth in Aus since the first Qtr 2009 (no recession until now) yet in that period of time our Combined Governments' debt has increased by about $1 trillion; that's on average $83 billion a year.
According to our Government there is no prospect of that rate abating over the next 4 years and according to the RBA and other arms length economic commentators there is little or no chance of economic growth improving up to 2030 above and beyond what it was in the teens.
So, how can Aus grow that magic "Pie" to say 5% GDP growth P/A which is required to balance budgets and pay interest on our mountain of debt.
The Federal Government has already listed the Commonwealth of Australia on the US SEC just in cashew default on debt !
We pay interest (currently about $28 billion a year ) on combined Governments' actual debt (not on the "net debt" that you conveniently cited above) with the real prospect of that doubling in the next 4 years due to the impact of inflation on sovereign bond rates!
