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fromMike Schier
conclude
Suddenly, debts are in vogue. But this attitude is nonsense, comments Mike Schier. As before, getting into debt is bad politics.
There was a time when people looked enviously from Berlin to Munich because the then Prime Minister Edmund Stoiber had introduced a balanced budget in Bavaria against bitter resistance. His successors even started paying off debts. The federal government, the other countries – everyone emulated it. In 2009 the debt brake was even included in the Basic Law.
A good decade later, the reading has completely reversed: “Habeck calls for the courage to go into debt,” headlined a Sunday newspaper yesterday. As if sustainable financial policy were suddenly old-fashioned in the age of sustainability. Anyone who insists on the debt brake in 2021 is considered by the SPD and the Greens to be someone who is blocking the consistent fight against climate change. In times of low interest rates, frugality is just a fetish.
Traffic light dispute over finances: If you want to invest in the climate, you have to save elsewhere – but Bavaria is not a role model either
Nonsense! The past few years have shown that the public budgets are repeatedly subject to massive special expenditures. The financial crisis, the flow of refugees, the corona pandemic. The state always had to reach into the coffers. This could only be achieved because the tax revenues exceeded all expectations year after year – and because in times without a crisis it had been managed reasonably responsibly. The next wave threatens when the baby boomers retire from 2025.
No: If you want to invest in climate protection, you have to save elsewhere. Incidentally, Bavaria no longer serves as a role model. The Söder government has spent the money with full hands. There is a risk of massive trouble in the next household.
Mike Schier
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