Germany may be about to loosen its famous commitment to budget discipline. A looming deal between German Chancellor Angela Merkel's Christian Democratic Union and the Social Democrats promises to spend more money on everything from child allowances, to pensions, to tax credits for homebuyers. Fiscal hawks are already crying foul, claiming there's no clear way to pay for these commitments. Good. Contrary to popular belief, national budget surpluses are quite often stupid and unnecessary....

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