Chancellor Angela Merkel and Finance Minister Olaf Scholz would be willing to increase debt in order to offset a tax revenue shortfall due to an economic slump, the magazine said, citing sources in the chancellery and the finance ministry that it did not identify by name.
In 1977, Jimmy Carter made an improbable journey from Georgia peanut grower to Democratic president in part by playing on his humble roots and receiving support from America’s farmers. Yet this bedrock voting constituency abandoned a fellow farmer to back Ronald Reagan four years later, after Carter punished Moscow for invading Afghanistan by cutting off grain sales to the Soviet Union. U.S. farmers were already struggling with collapsing crop prices, and the embargo may have been the final straw. Farmers threw their support behind Reagan, who had promised to lift the hated restrictions.
“Grotesque” is how Sen. Bernie Sanders has described the level of wealth inequality in the U.S., and he’s not the only Democrat running a presidential campaign that relies heavily on this idea. Sen. Elizabeth Warren has called the economy “rigged.” And Sen. Cory Booker has said, “We can no longer accept racial and economic disparity as a normal function of our society.”