With respect Jim, I agree the current Government have walked into a lot of debt from previous administrations going back to Howard and Costello. Howard and Costello passed the reins to Rudd/Gillard/Rudd with zero debt. Let that sink in.
The rot set in when R/G/R walked out the door legislating the NDIS without any funding in the budget. A hand grenade for the incoming Abbott Government. Turnbull/ Morrisson administrations have added to our situation with Covid payments being a huge contributor.to where we are today. You will recall that when Morrisson finally called a halt to Covid spending, Albanese screamed blue murder. He wanted the payments to continue. Now he is in Government and cranking up the spending to unprecedented levels. Despite a record tax take, the Government has embarked on more borrowing to fund it's addiction to spend ever more of our money. Thanks to the inept decisions of so many elected politicians over the last 20 years, (from both sides of the aisle) Australia's Balance Sheet has been trashed. Albanese and Chalmers do not fill me with confidence in the task of repairing the damage.
