France's debt out of control

The Sunday Business Post ^ | 18 December 2005 | Thomas Hubert

[Travis McGee]

If our currency crashes and our economy "goes Argentina," there will be a world depression. This will lead to civil strife and war, which will benefit no one.

[operation clinton cleanup]

The debt stands at €1,117 billion, representing 66 per cent of France's GDP ...

Holy Schnikes! Thats quite a bit of GDP. Tax increases are the only answer!

[A. Pole]

Answering my own question -- about $22,000 per person; still a good bit less than ours.

That's right

[Shanty Shaker]

Percentage of GDP is the consideration.

[Reeses]

So if I understand your chart correctly, the ratio of debt to GDP was lowest under the Carter administration, when the economy sucked?

Yes, which goes to show how useless this ratio is. The debt payments under Carter were very high because of the high interest rates. The debt to GDP ratio has nothing to do with prosperity or economic health. It's a trick statistic useful to leftists to scare up support for tax increases to fund spending increases.

[MagnoliaB]

No wonder they are so pissed at the US for taking away their 'oil for food' scam money.