Analysen Haushaltspolitik; Chancen und Risiken der neuen Schuldenbremse – eine juristisch-ökonomische Analyse

The German debt brake, reformed in March 2025, raises questions about its economic impact and constitutional design. This paper provides an interdisciplinary analysis of these reforms. Economically, it shows that a growth-oriented use of new borrowing capacities is theoretically possible. However, such an allocation of financial resources is not legally mandated. Legally, it becomes clear that the Basic Law was broadly formulated due to its function within the normative framework, thus allowing for imprecise uses. The analysis illustrates that the new debt brake does not automatically contribute to future viability. Securing this remains a necessary subject of scientific debate across disciplinary boundaries.