So - the Govt. is $1.2 trillion in debt
https://australiandebtclock.com.au/but they have plenty of money
for submarines and all the other goodies? WTF?
https://www.abc.net.au/news/2024-04-17/richard-marles-unveils-50b-defence-spendi...17 April 2024.
Richard Marles unveils $50 billion defence spending increase over next decade.
In short: Defence Minister Richard Marles has announced the government will spend an extra $50 billion on defence over the next decade and will also re-prioritise $72.8 billion in planned spending.
Mr Marles confirmed the focus was on a "more amphibious" defence force with a local focus, as flagged in last year's Defence Strategic Review.
What's next? Further details of the government's defence decisions will be revealed in the May budget.
Australia's projected defence spending will increase by another $50 billion over the next decade, with the government unveiling an immediate boost of more than $1 billion to accelerate long-range missiles and targeting systems, as well as lethal autonomous systems.
Defence Minister Richard Marles has released Labor's long-awaited National Defence Strategy, which aims to put Australia's total defence spending at 2.4 per cent of GDP within 10 years.
Total government defence investment in the military is expected to reach $330 billion through to 2033-34, which includes initial costs for the massive AUKUS initiative to acquire nuclear-powered submarines.
An overhaul of Defence's integrated investment program will see up to $76 billion spent on "undersea warfare" and other large investments in space and cyber.
"The inaugural National Defence Strategy sets out a clear and priority-driven approach to protecting against threats to Australia and our interests," Mr Marles has told the National Press Club.
"The National Defence Strategy outlines how we are transforming the ADF and equipping it to survive in a much less certain world."
"These transformational reforms are designed to ensure that peace, security, and prosperity are maintained in our region".