We Can All Become Frenchmen --If We’re Lucky?

Many politicians in this country would love to have the U.S. be more like France. Let’s face reality. however. It’s not all brie and wine over there.

Did you know France hasn’t had a budget surplus since 1978? Their debt is now over 85% of GDP and is rising steadily to Greece-like proportions, to well over 90% of GDP. Their tax burden is horrendous. In 2010 it was 42.5% of GDP and rising; one of the highest in Western society. The country now spends over 28% of its GDP on welfare and it’s planning more. 

No small wonder the debt shows up in high unemployment for Europe. It’s employment rate is under 63% compared to Germany’s 76.5% and Switzerland’s 83%.

That’s a lot for U.S. free-spenders to look forward to, with our own, ongoing trillion-dollar budget deficits. Our total worker percentage has been falling while unemployment figures appear to be falling as workers stop looking for non-existent jobs. (See the Earl J. Weinreb NewsHole® comments.)