Chalmers’ upcoming budget a ‘drop in the ocean’ to Australia’s total debt

Treasurer Jim Chalmers’ upcoming budget is a “drop in the ocean” compared to Australia’s total debt of around $892.1 billion, Sky News host Peta Credlin says. “We were told that tonight’s surplus would be some nine billion dollars, well, in that respect, Chalmers is better than his old boss but how real is this surplus, 9.3 billion we are told,” Ms Credlin said. “Given Australia’s three trillion-dollar economy it is not, indeed it is scarcely one per cent of total Commonwealth debt, and that is racing towards one trillion dollars, or 1,000 billion … it is a drop in the ocean.”