Sharon Zollner: ANZ Chief Economist discusses the government's rapid increase in national debt - The Mike Hosking Breakfast

The government's debt has shot up as our collective total gets closer to one trillion dollars. 

The country's overall debt rose to $870billion dollars for the year to May, 5.4-percent higher than last year’s $830billion. 

Central Government debt sits at nearly $239billion, rising 11-percent on last year. 

ANZ Chief Economist Sharon Zollner says it's worrying if it's getting frittered away, instead of going into key things like infrastructure.  

She says the trouble with the increase is the Government doesn't have a lot to show for it. 

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