Deputy Prime Minister Barnaby Joyce said that when the Coalition lost government in 2007, Australia was owed billions by the world – but that when the Coalition regained power in 2013, Australia was in debt. Is that right?
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Future taxpayers were the big losers of the trillion-dollar budget deal, who will have to shoulder the burden of higher interest payments.
For many borrowers — particularly those with advanced degrees — a high debt is far from a crisis.
