The latest budget paints a troubling picture of Australia’s financial future—ongoing overspending, rising deficits, and ballooning debt.

The numbers speak for themselves:

· Total government payments this financial year are expected to reach $732 billion.

· Over the next four years, spending will surge from $777 billion to $878 billion, with cumulative deficits totaling $152 billion.

· By 2028-29, government spending will be two percentage points of GDP higher than in 2022-23.

· Gross government debt is set to exceed $1 trillion next financial year, reaching $1.22 trillion by 2028-29—a staggering 36.8% of GDP.

· Net interest payments on this debt are now the fastest-growing budget expense, projected to hit $28 billion next financial year and over $38 billion by 2028-29.

This financial recklessness is unsustainable. The government cannot continue to spend beyond its means while burdening future generations with crippling debt.

Tell Jim Chalmers to rein in government spending before it’s too late.

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