Australia's largest centre-right youth political movement has launched a campaign to call on the Federal Parliament to deal with the half a trillion dollar debt bomb.

"Unless the Parliament takes real action to deal with the half a trillion dollar debt bomb, young Australians will have to pay back every single cent with interest," Federal Young Liberal President Aiden Depiazzi said.

"Intergenerational debt is a vital issue to young people who are tremendously concerned by having to pay back, with interest, the extravagant spending of today."

"Our campaign will be multifaceted and will build on the success of the Save Free Speech campaign which reached more than 80,000 young Australians, convinced the Liberal Party Room for action and saw a surge in membership applications and donations to our Movement."

"We encourage young Australians who share our concern to sign our petition at youngliberal.org.au/debt to help make the case to Canberra," Mr Depiazzi concluded.