German budget deficit jumps to 3.5 pct in 1st half

Ever rising budget deficits around the world, as a result of increased public spending as private demand falters, is the result of Keynesian economic policies. The public sector then uses inflation backed by the printing press to induce inflation which devalues the previous issued bonds. There is no intention to repay but rather only a transfer of risk from the private to public sector in the on going sovereign debt crisis.

Germany's deficit rose sharply to 3.5 percent of economic output in the first half of 2010, putting it on track to break EU budget rules due to the costs of the global economic and financial crisis, official data showed Tuesday.

Source: finance.yahoo.com