France, one of Europe’s most indebted countries

France, one of Europe’s most indebted countries – Document

Under Macron, France’s debt has exploded and made the country one of the most indebted in Europe, but the United States is still “ahead” – on the way to the abyss.

According to Insee, France’s total national debt at the end of 2023 will amount to 3,101 billion euros, which corresponds to 110.6 percent of GDP and makes France one of the most indebted countries in the EU. In comparison, Denmark’s national debt amounts to only 10.5 percent of GDP.
According to Olivier Marleix, the deficit of more than 5 percent heralds a snowball effect when the major international credit rating agencies pass a new judgment on the French economy in April or May. A deteriorating credit rating can lead to even higher interest costs. (JyllandsPosten)

But Macron is no match for Biden. The US national debt corresponded to 124 percent of GDP in December 2023, and since then Biden has put forward a state budget of 7.ooo billion dollars, which is 3,000 billion more than tax revenues. Biden is printing money and borrowing money the US can’t afford. Interest expenditure is on par with the defense budget.

Concern about the national debt is now shared by 57 percent of voters.