Probably true. The French bankrolled much of the American Revolution...which pretty much bankrupted them. When the war was over, instead of opening up our lands for French developers we shut the Frenchies out and made our primary trade deals with the Brits (who, of course, would be less demanding, considering the circumstances). Due to the really bad economic situation in France (thanks to America) the Frenchies beheaded a great many of their leaders. French would-be aristocrates still take umbrage with Americans for taking english as our primary language instead of french.
Things have gone down hill for France ever since the American Revolution. Their last great achievement was the invention of french toast.
When were french fries developed?? ;-)