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The Financial Crisis in Europe: Rising National Debt and the Need for Government Reform

The corona pandemic, but above all the aid for the war in Ukraine, led to a financial crisis in Europe with national debt at unprecedented levels. Depending on the country, these currently average around 80 percent of GDP in the EU. According to the Maastricht criterion, however, they should only be a maximum of 60 percent. The consequences cannot yet be estimated! Some forecasts even expect another recession! We also have similar money problems in Austria, only exceeded by the problems with our politicians. Intense alibi verbal battles in parliament prove nothing, on the contrary, they only simulate lively activity! Since almost 90 percent of the laws are already “ordered” by the EU headquarters in Brussels, domestic politicians only have 10 percent left, which they could easily carry out with their abundant staff (civil servants and experts). So when will the legislative and executive monster (government, National Council, Federal Council, state parliaments, state governments, district and municipal administrations with the associated army of civil servants) finally be reduced in size in Austria? A former red minister once compared his planned tax creations (tax on millionaires or the rich) with Switzerland. That’s not so bad, but then you would have to compare the “size” of the Austrian government team with that of Switzerland! Why do we need a 17-member government? Not even the USA has that many ministries (15 ministers!). Plus nine state governments, plus many district authorities and countless local councils. The Swiss government consists of only 8 people, and it is noticeable that the tasks of a Federal President, a Vice President and a Federal Chancellor are carried out by ministers and therefore do not place any additional burden on the taxpayer! One thing first: people don’t want any new debts, but they also don’t want any new taxes, and in the future they want to decide for themselves how the tax money is distributed. The various ministers, of course also female ministers and also the Federal President, take many millions with them on their trips abroad – without asking the people – and distribute this money locally! By the way, saving means refraining from spending, or at least deferring spending. Therefore, the order of political action should actually be as follows: slow down or stop the debt and then finally reduce it through savings! However, the current politicians do not want to reduce the debt through savings, but only through new tax creations!

2023-10-08 00:53:59
#money #politicians #problem

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