Part 7/10:
Conversations about economic management often involve student debt, public works debt, and the resultant impact of these elements. The Liberal administration under Howard managed to decrease government debt due to high revenue collections during economic booms, providing him an advantage. However, Rudd's ability to navigate the Global Financial Crisis (GFC) resulted in expanding debt levels, though they remained within manageable limits.
In recent years, the Liberal government amassed significant debt figures approaching $1 trillion, exacerbated by pandemic-related spending. Yet, the IMF and economists note that not all debt is detrimental; manageable debt can drive public progress and infrastructure development, contingent on favorable interest rates and economic growth.