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Government debt

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The $2.8 trillion question: America is hunting for cash, but there’s a bit of a problem

The $2.8 trillion question: America is hunting for cash, but there’s a bit of a problem

The US is going to put trillions worth of new debt up for sale before the end of the year as it tries to rebuild its cash reserves. There is an issue, however.

  • by Stephen Bartholomeusz

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The US just paid a heavy price for Washington’s poison

The US just paid a heavy price for Washington’s poison

The historic credit rating downgrade shines a light on how America’s bitterly divided, dysfunctional politics is playing a key role in its deteriorating financial position.

  • by Stephen Bartholomeusz
‘Money illusion’: America’s Faustian Pact with runaway debt is coming due
Opinion
Opinion

‘Money illusion’: America’s Faustian Pact with runaway debt is coming due

The putative accord between the White House and Congress does not even try to address the larger threat to the world’s largest economy. Sacred entitlements remain untouchable.

  • by Ambrose Evans-Pritchard
The US will pay a heavy price for its damaging game of chicken

The US will pay a heavy price for its damaging game of chicken

The US appears likely to narrowly escape a financial catastrophe with a debt ceiling deal, but the outcome does not justify the havoc that has been caused.

  • by Stephen Bartholomeusz
Budget dreaming: Is the road out of debt a forecast or a fable?

Budget dreaming: Is the road out of debt a forecast or a fable?

In its darker moments, the Andrews government might turn to Budget Paper No. 2 for solace, but are its forecasts of decreasing debt just wishful economic thinking?

  • by Josh Gordon
‘Borrowing to build’: Daniel Andrews fires up over Victoria’s growing debt

‘Borrowing to build’: Daniel Andrews fires up over Victoria’s growing debt

The state has the largest debt of 17 similar states around the world. But the premier says quality of life would be “fundamentally compromised” if government spending were slashed.

  • by Broede Carmody
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There are 17 states like Victoria around the world. None has more debt

There are 17 states like Victoria around the world. None has more debt

Leading economists and credit agencies say while Treasurer Tim Pallas took steps in the budget to begin repairing the state’s finances, Victoria’s debt burden will not “decline meaningfully” soon. 

  • by Sumeyya Ilanbey
Local investors confident US can avoid debt ceiling ‘Armageddon’

Local investors confident US can avoid debt ceiling ‘Armageddon’

Market fears over the United States debt ceiling saga appear to be fading amid signs politicians are edging towards a deal.

  • by Clancy Yeates
Victorians slapped with COVID debt repayment bill

Victorians slapped with COVID debt repayment bill

The Andrews government will detail a $31.5 billion “COVID-19 Debt Repayment Plan” as part of Tuesday’s state budget, to repay emergency funds borrowed as part of Victoria’s protracted pandemic response.

  • by Josh Gordon and Chip Le Grand
Why share and bond markets are at loggerheads

Why share and bond markets are at loggerheads

Equity investors are optimistic about the outcome of negotiations over the US debt ceiling. Bond investors aren’t so confident that common sense will prevail in the debt tug-of-war.

  • by Stephen Bartholomeusz
What to do with a surplus? Pay down some debt

What to do with a surplus? Pay down some debt

Treasurer Jim Chalmers forecast the first surplus in 15 years in his budget. The cash will go towards paying down debt.

  • by Shane Wright