Tag Archives: Government Waste

No, it isn’t

March 15, 2025 By in Hard Facts, Heconomy, Helplessness, Home Cooking, Hurt Feelings Tags: , , , , , , Leave a comment

Germany is not back. And it won’t be coming back until its politicians respect the will of the German electorate. This is not the government Germans voted for.

Germany is back, says Merz after historic spending deal – Germany’s conservative leader, Friedrich Merz, has clinched an enormous financial package to revamp defence and infrastructure, ahead of a crunch vote in parliament next Tuesday.

Merz, who aims to lead a government with the Social Democrats in the coming weeks, is in a rush to push through a big boost in spending on defence and creaking infrastructure…

“This is nothing less than a financial coup.”

PS: And who says they have the votes to push this through next Tuesday?

English of the day: Debt overhall

March 5, 2025 By in Hard Facts, Heconomy, Helplessness, Home Cooking Tags: , , , , , , , Leave a comment

That means to go bat shit crazy further into debt. Unnecessarily.

German taxpayers “contribute” a billion euros a year now. German politicians burn most of it. They have all the money they need. They just refuse to cut spending à la DOGE. This is a “conservative” planning to do this, mind you.

German parties agree on historic debt overhaul to revamp military and economy – The parties hoping to form Germany’s next government on Tuesday agreed to create a 500 billion euro infrastructure fund and overhaul borrowing rules in a tectonic spending shift to revamp the military and revive growth in Europe’s largest economy.

Friedrich Merz’s conservatives and the Social Democrats (SPD), who are in negotiations to form a coalition after a national election last month, will put their proposals to the German parliament next week.

Well, if there was ever any doubt…

November 26, 2024 By in Hard Facts, Heconomy, Home Cooking, Hurt Feelings Tags: , , , , , , , , Leave a comment

You must NEVER relax the debt brake, Germany.

Relax Germany’s debt brake, says Angela Merkel – Former chancellor’s memoirs back reform of borrowing cap that she introduced into constitution.

Former chancellor Angela Merkel has called for Germany to relax its “debt brake”, in a sign of the growing political pressure to overhaul a borrowing cap that many economists say is too inflexible. 

Merkel, who served as chancellor between 2005 and 2021 and introduced the debt brake into Germany’s constitution, made the proposal for change in her autobiography Freedom: Memories 1954-2021.

Your can hardly get any customers to visit your restaurant now?

December 28, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking Tags: , , , , , , , , Leave a comment

I know! We’ll increase the sales tax so nobody comes to your restaurant at all anymore.

No need to thank us. We’re from the government and we’re here to help.

German budget woes trigger disaster warnings for restaurants – Owners who oppose return to higher pre-pandemic VAT rate are dismissed as scaremongers by economists.

Kemal Üres, owner of a tapas bar in Hamburg, has spent the past year telling his social media followers that thousands of businesses like his will be destroyed by a planned tax increase.

The man who calls himself the “Gastroflüsterer”, or restaurant whisperer, is campaigning to make the pandemic-era cut in value added tax on restaurant meals permanent. Otherwise, the German government’s decision to raise VAT from the 7 per cent rate in place since 2020 back up to 19 per cent in January would lead to higher prices, job cuts and as many as 30,000 bankruptcies, he said.

We did it!

December 14, 2023 By in Habitudes, Hard Facts, Heconomy, Helplessness, Home Cooking, Hypocrisy Tags: , , , , , , , , , Leave a comment

My back is starting to hurt from all the patting I’ve been giving it.

We’ll just get around that old debt brake six months from now by declaring another “unforseen emergency” for more debt our high court can’t stop us from making. We’ve even announced what that unforeseen emergency will most likely be: Ukraine.

Germany clinches last-minute 2024 budget deal, keeps debt brake – Germany’s government clinched a last-minute deal on its 2024 budget on Wednesday that will see Berlin return to its self-imposed limits on new debt despite warnings this could hamper growth in Europe’s top economy and its green transition.

Chancellor Olaf Scholz’s three-party coalition was faced with either suspending what is known as the debt brake or finding some 17 billion euros ($18.3 billion) in savings and tax hikes after a Nov. 15 constitutional court ruling threw its plans into disarray…

Others said the deal simply delayed a necessary decision on how to fund investments in an economy that has already suffered years of chronic underinvestment. Last month’s court ruling has made clear the government will not be able to resort as easily to off-budget funds going forwards.

Dabblers

December 8, 2023 By in Habitudes, Hard Facts, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , Leave a comment

You call that debt?

Sure, you’re burning too much of the taxpayers’ money but if you want to see how it’s really done, take a look at The Banana Republic of US-Amerika.

Hard-pressed Germans dabble in debt but want government thrift – Most Germans do not want their government to loosen its strict borrowing rules to fix a budget mess – but many in a nation that prides itself on thrift are building up their own debts as a cost of living crisis deepens.

Chancellor Olaf Scholz’s coalition is reeling from a court ruling last month that has thrown its finances into disarray and forced it to suspend a constitutionally enshrined “debt brake” for the 2023 budget.

Time to say goodbye

December 5, 2023 By in Habitudes, Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , , , , , Leave a comment

To your latest Green fantasies.

The money. She is gone, señor.

Germany’s Greens thought their moment had finally come… But then, last month, Germany’s top court handed down a ruling that effectively stripped the ruling coalition of the full financial firepower it needs to make those ambitions a reality.

The bombshell ruling by Germany’s Constitutional Court blew a €60 billion hole in the country’s finances, leaving the government scrambling to fill the gap. At the same time, the ruling sharply limits the government’s ability to draw from special funds created to circumvent the country’s constitutional debt brake, which restricts the federal deficit to 0.35 percent of GDP except in times of emergency.

These special funds were supposed to help finance several projects which are core to the Greens’ agenda — such as the transition of steel plants to hydrogen energy, subsidies for battery and microchip production, and the modernization of the country’s railway network.

I sea what you did there…

December 4, 2023 By in Hard Facts, Heconomy, Helplessness, Hideology Tags: , , , , , , , , Leave a comment

But I’m not shore if you were serious.

What goes around comes around.

Island strife: Greece serves Germany a dose of its own medicine – A former minister in Athens turns the tables with a proposal that recalls unwelcome advice during the debt crisis.

As Greece sank into the mother of all debt crises in 2010, the German tabloid Bild ran a story under the headline: “Sell your islands, you bankrupt Greeks! And sell the Acropolis, too!”

One former Greek government minister never forgot the newspaper’s impertinent advice. Like a reincarnation of Nemesis, the ancient Greek goddess, Panagiotis Lafazanis last week recommended — in an interview with Bild, no less — that Germany should consider selling an island or two to overcome a budgetary emergency of its own.

More wiggle, wiggle, wiggle

November 27, 2023 By in Habitudes, Hard Facts, Heconomy, Helplessness, Hideology, Home Cooking Tags: , , , , , , , Leave a comment

They’re still squirming. 1) No money but lots and lots of things to spend it on (spending voters’ taxes is how they get votes). 2) Can’t raise taxes any higher (voters are already being taxed to death).

Let’s see. 3) There’s still this debt brake thing we could tweak (except we would need to change the German constitution and the opposition won’t help us).

This adds up to… Are you serious? Do you honestly mean to tell us that we now have no choice but to set priorities and, gulp, cut spending? OMG we’re all gonna die!

Germany’s budget crisis spurs calls to change its borrowing limits – Germany’s budget crisis has given new momentum to reforming self-imposed borrowing limits even among the opposition conservatives, as hunger for sorely needed investment trumps an earlier political obsession with fiscal rectitude.