Despite full cash boxes: do not implement every election promise in the next coalition agreement! (in German)

The paper addresses the public budget surpluses in Germany against the backdrop of the coalition talks between CDU/CSU and SPD. The author explains that the current public budget surpluses are due to the economic boom and low interest rates. With a view on the upcoming fiscal burdens in the course of demographic change he advises against devoting surpluses one-to-one for tax cuts or additional spending. He also warns against an additional fiscal stimulus during the current boom.