Federal interest payments are expected to reach $46.5 billion, or 10.2 percent of total federal revenues, in 2023/24. In other words, the federal government is currently spending more than 10 cents of every dollar in revenue on interest payments.
That's just shy of a billion dollars a week to service the debt. That could go a long way to helping hospitals, homeless, fighting crime etc.
That's just shy of a billion dollars a week to service the debt. That could go a long way to helping hospitals, homeless, fighting crime etc.
