L’Etat, C’est You

Or at least the national deficit is all yours, my German friends (and mine – I live and pay taxes here, too).

Debt

But there’s good news, at least. Sort of. It’s only going to get worse!

It’s a paradoxical situation: The economy is braving the euro crisis, tax revenue is making the coffers ring and the German state still goes further into debt. The public sector deficit climbed to 30 billion euros during the first nine months this year. First and foremost the federal government, but also social security and other benefits have gone into the red.

And economists fear that this is just the beginning. Billions of new burdens have been tucked away in the coalition agreement just signed between the Union and the SPD. Tax, social insurance and other contribution increases are right around the corner.

Hey, you voted this coalition government into office, Germany. Oh, that’s right. You didn’t.

Trotz guter Konjunktur und steigender Steuereinnahmen macht Deutschland Milliarden neue Schulden. Jetzt befürchten Ökonomen: Das wird die Bürger teuer zu stehen kommen – und zwar schon bald.