2000 billion euros! But what for ?

France's public debt has reached 2000 billion euros and is heading straight for 100% of GDP.

This debt was 20% of GDP in the late 1970s, while growth was 4% and unemployment was 5%.

The debt has only increased during all these years, unemployment too, while growth has only slowed down.

The graph below illustrates the comparative evolution of these 3 DCP indicators (Debt - Unemployment - GDP) and inevitably raises the question of the usefulness of public spending.

DCP France 1978-2014

-> The state can no longer promote growth without reducing its own

-> The issue today is no longer the amount of public expenditure, but its usefulness

-> Public debt, 40 years of psychological denial