Bad news on the eve of the budget 2015: the public debt of France crossed for the first time, the figure of 2.000 billion euros. The table is dimmed and the debate promises to be tough in the Assembly.
It is done, the debt of France spent this summer, the symbolic 2,000 billion. At 2.023 billion, the absolute record holder over 95% ratio of debt to gross domestic production (GDP). At this rate, the country approaches another symbol, that of 100%. From 2002 to 2012, the debt doubled from 930 to 1860 billion, 600 billion in the five year Sarkozy. The crisis has affected accelerator. And rising 30 points to GDP ratio is not also a French specificity. It reached 50 points in the UK, 60 points in Spain … But the crisis does not explain everything. Over time, the addiction to debt is obvious: no balanced budget for over thirty years! France entered into crisis, weighted with a balance due to Jospin in the early 2000s and tax cuts under Sarkozy (law Tepa) in 2007 the voluntary action of the former Minister Thierry Breton, 2005-2007, was well enough to offset the structural deficit. But it was quickly abandoned. However, the recovery is a matter of policy consistency.The country is mired
Highlighting taxes and wasteful drift, the Socialists have only increased discomfort. Zero growth and tax revenues at half-mast: the deficit will reach 4.4% this year and almost as many next year. The 3% target is dead and buried. France became the first country issuing debt in euros. Interests on loans are low but weigh heavily. At $ 48 billion, it is the second largest budget item after Education! At Budget 2015, the country is mired. 50 billion in savings promised by 2017 remain unclear. The family of the social security branch sees tax of 700 million. Communities will have to tighten their belts. The battle promises to be tough in the Assembly. And debt swells.
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