Yesterday morning, Australia's federal government debt passed one trillion dollars for the first time in the nation's history. On the one hand, as the federal opposition is arguing, that’s a huge number. On the other hand, Australia has one of the lowest debt levels among advanced economies, while the U.S. also passed a milestone yesterday at $40 trillion. On today’s podcast, we're going to explain what Australia's number actually measures, what those on both sides of politics are saying in response, and why the Australian and U.S. milestones are being received so differently by the people who actually lend countries money.

Hosts: Sam Koslowski and Billi FitzSimons
Producer: Orla Maher
Video editor: Imogen Abbott

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