this post was submitted on 06 Jul 2023
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The fetish of the black zero.
It's just silly. In business class you learn that you need to account for inflation when assessing the value of money. Even without economic growth 8% inflation mean that our country's debt shrinks by 8% if we don't pay back a single euro. That's about 200 billion euros of debt vaporized last year alone.
Not accounting for inflation with the debt brake (Schuldrenbremse) was an incredibly dumb decision.
You learn that there are different kinds of dept aswell. Dept as investment isn't bad. And most importent: a country isn't a company. You can litterly print money! (Or at least the ECB) As long as the economy runs it doesn't matter.