Surely the rating agencies will have to wake up soon and Downgrade the credit rating of several state Governments QLD, NSW and VIC for a start pretty much to junk status.
There is no way these governments will ever repay the debt they have taken out when you rack up 100 Billion in Debt any chance of repayment is pretty much over especially when you have to borrow more to repay the interest.
Watch them ask for a Federal Government Handout.
And no wonder there in trouble when leaders think it's okay to pay millions for a fence or flag pole.
