Tuesday, July 23, 2013

Could France succeed where Detroit has failed? « Hot Air

Could France succeed where Detroit has failed? « Hot Air: "Much like the recently and officially bankrupt city of Detroit, France and its explicitly Socialist leadership are struggling to find a way out from underneath the crushing fiscal burden of much too much government spending and extravagantly underfunded pensions, and their politics are largely dominated by ultra-liberals and big labor to the degree that putting the country on the long-term path to fiscal sustainability isn’t really on the radar. Hollande’s big goal at the moment is to push through just enough reform so that they won’t have to address the problem again until 2020… but what happens after that? And what about all of the additional debt they’ll be wracking up in the interval?"

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