The German cabinet approved next year’s budget proposals on Wednesday, envisaging record debt for 2010, government sources told German Press Agency dpa.
The budget, drawn up by Finance Minister Wolfgang Schaeuble, includes 85.8 billion euros (125 billion dollars) of new debt, by far the largest annual increase in modern German history.
Government expenditure is also set to rise, to 325.4 billion euros, largely due to economic stimulus programmes aimed at curbing the effects of the economic crisis.
Schaeuble defended the one-off rise in public deficit, which he said was ‘bitter, but economically and socio-politically correct,’ during an interview on Deutschlandfunk radio.
The budget plans were drawn up by German Chancellor Angela Merkel’s centre-right coalition of Christian Democrats (CDU) and Free Democrats (FDP), which came to power in September on the promise of lower taxes and increased spending to boost the economy.
RELATED ARTICLES
- EU to use Russian assets to buy arms for Ukraine
- German School Bans Children from Drinking Water Because its Offensive
- Turkish students film themselves beating and torturing 12-year-old German child
- Germany will arm Ukraine with Indian Artillery Shells
- Ukrainian refugee killed in Germany by other refugees because of his Nationality
Loading ...
Hyperinflation will happen again, but i dont see any totally new antichrist on the horizon. I think the problem will be dealed on a global basis. One currency for the whole planet, a global carbon tax to fund the world government. I think Obama will declare martial law and if he is successful in overpowering the militia resistance he will take over europe. I guess there will be no resistance whatsoever(like 3rd reich and austria^^) Then they melt the 2 together into a superstate and then they destroy the economy further so we become like china, russia… and then we melt together globally and we get our orwellian state. everybody gets a chip in his body and if somebody says something wrong he cannot buy and sell anymore because they turn his chip off. enjoy your life, its short. i dont consider this future to be a real life, i would prefer to die in the civil war than to live as a slave.