Debt is antisocial for our children and grandchildren

Christian Lindner

Citizens can only trust that the finance minister will remain true to his policy of sound finances. That’s what it looks like, and that’s a good thing.

(Photo: dpa)

Today’s debt is tomorrow’s tax hike. The massive relief of almost 300 billion euros in the past year for citizens and businesses is therefore to be seen with mixed feelings. Chancellor Olaf Scholz (SPD) and Federal Finance Minister Christian Lindner (FDP) had to react to the exploding energy costs.

But the interest on the debt is rising dramatically and our children and grandchildren will have to pay the bill one day, even if they don’t remember the war in Ukraine. Debt is antisocial for generations after us.

The citizens can therefore only trust that Lindner will remain true to its policy of sound finances. That’s what it looks like, and that’s a good thing. The FDP boss is firmly committed to the debt brake. There is still enough money for investments, it cannot be spent mainly due to a lack of skilled workers or the lack of building permits.

Not every government can pull out the bazooka

Anyone in Greece, Italy or France can see what it means to burden one’s community with new debts. Athens, Rome or Paris just can’t even pull out the “bazooka” or announce a “double boom” like the traffic light coalition. This is only possible if the household is kept in order despite all the challenges.

Top jobs of the day

Find the best jobs now and
be notified by email.

That is why the euro bonds brought back into play by the EU Commission are the easy way, but the wrong way. In the European Union’s Corona reconstruction fund alone, there are 750 billion euros unused. Now Brussels wants to saddle up new joint debts via a sovereignty fund. Nobody can or wants to say who should pay back all this. And there is also no answer as to what is actually supposed to be financed with it.

>> Read also: With this salary you belong to the top earners in Germany

The main thing is that the EU Commission feigns activity in order to counter the investment plans of the USA. But in Germany as in Europe, those who brace themselves against higher debts are not only doing something for future generations, but are also fighting inflation at the same time.

Anyone who thinks all of this is exaggerated need only look at the recent debates about the sprawling tax state. The Council of Economic Experts, once the hotbed of supply-side politics, brought up energy solos and a higher top tax rate without blushing. This week, the chairwoman of the Economic Wise Men spoke out in favor of a “fair” reform of the inheritance tax. Incidentally, in these circles, “fair” is a code word for higher taxes. Nothing will change in 2023 either.

More: Seven graphics debunk the myth of the ruined state

source site-11