Q2 Federal government current expenditures: Interest payments: $1,089,085,000 \ stacker news ~econ

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2024 Q2 Numbers are out

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31 sats \ 1 reply \ @sancristrader 30 Jul

you missed ,000. It's 1 trillion, not 1 billion.

21 sats \ 0 replies \ @Wumbo OP 30 Jul

Thanks for pointing out the typo.

I got distracted by the title length of limit for stacker news.

"Number is so big, it won't even fit in the title"

21 sats \ 5 replies \ @TomK 30 Jul

It gets funny when the state has to take on debt to pay its interest.

47 sats \ 4 replies \ @Bell_curve 30 Jul

The one benefit of high interest payments is that the public becomes more aware of high government spending.

Of course the downside is that some voters will say we need to raise taxes to pay down debt!

31 sats \ 3 replies \ @TomK 30 Jul

exactly. and the propaganda will prepare the citizens beforehand that taxes are important to save the state and that demanding very low taxes or even not paying taxes is an anti-social piece of shit. Australia is already going down the path of imposing a tax on unrealized gains on pensions over 3 million in asset value. That's what it boils down to everywhere

68 sats \ 2 replies \ @Wumbo OP 30 Jul

Australia is already going down the path of imposing a tax on unrealized gains on pensions over 3 million in asset value.

Did that get passed into law or just proposed?

21 sats \ 1 reply \ @TomK 30 Jul

Please check this again, but as I caught a glimpse of it today, the law was passed today that I believe will apply from 2026.I would check it again now, but I can't right now.

21 sats \ 0 replies \ @Wumbo OP 30 Jul