As reported by Telstra BigPond that Australian that hold credit cards will have to pay more interest than the nation’s tax payer are expected this is because the Fed government got into deficits budget. 
Credit card holders in Australia will pay more interest on their debt than the nation’s taxpayers are expected to after the federal government’s descent into budget deficits.
In the 2010/11 budget papers, net interest payments on the federal government’s debt are forecast to be $4.6 billion for the fiscal year ending June 2011.
The federal government’s net debt, the financial liabilities minus all financial assets of general government, for 2010/11 is forecast to be $78.5 billion.
Australian credit card holders made payments totalling $4.99 billion in interest for the year to February 2010, according to data from financial research group Canstar Cannex.
That’s the credit card interesting news for today.
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