Big Troubles Are A-Coming
State debt is about to explode. NSW debt will jump 331% by 2030 to $273 billion, with interest costs alone hitting $11 billion annually. Victoria's even worseโa 427% increase to $291 billion, where interest will swallow $12 billion or 9.4% of the entire state budget.
Tasmania faces the worst blowout of all, with debt jumping 552% by 2030. ๐ Across all states combined, debt will soar 261%โclimbing from $270 billion in 2019 to $977 billion by 2030.
When interest costs eat 9% of your budget, there's no money left for schools, hospitals, or roads. This is what happens when governments spend like there's no tomorrow. Tomorrow's here.