Australia's debt will peak at about $300 billion, Prime Minister Kevin Rudd says.
Mr Rudd had to be asked the question several times on ABC Television before would name a figure.
He said the peak projected public debt would be 13.8 per cent of GDP in 2013/14.
"We're aiming to a gross figure of 13.8, which comes out at about 300 (billion)," Mr Rudd said.
He admonished the opposition for running a "dishonest scare campaign" on debts and deficits, saying it was appropriate for the government to spend to stimulate the economy in tough times.
Mr Rudd again sought to downplay speculation that Australia could head to the polls early if part of the budget - or other key bills - were to be blocked by the Senate.
"I have no interest in having a double-dissolution election," he said.
"I'm quite conservative on the question of governments serving their full term."
"I don't believe it's in the economy's interest for there to be a double-dissolution election."
However, Mr Rudd said it was very important that the financial integrity of the budget was preserved, so the country could return to surplus.
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