Successive governments have thrown a lot of money at the Australian economy this decade.
The federal government has spent about $400 billion more than it has pulled out of the economy via taxes over the last five years and state governments have outspent their revenue by a similar amount.
Source: https://www.afr.com/markets/debt-markets/why-the-market-s-exuberance-is-fine-for-now-20250918-p5mwag