Jean Gatty: “To get out of debt, the State must agree to sell part of its financial assets”
TRIBUNE - Unless we want to pay interest until the end of time, and live less well and above all less freely than elsewhere, we must put an end to the budget deficit and, above all, reduce the debt, believes the…
Jean Gatty runs a portfolio management company, he is the author of essays on political philosophy and economics. There is a paradox today. We are alarmed by a debt of 3,500 billion and the inexorable rise in interest... but we are just proposing to stem the debt.
And to pay annual interest indefinitely, which will quickly reach 110 and 120 billion, or almost 5% of national income, two weeks of work per year for everyone. Unless we want to pay interest until the end of time, and live less well and above all less freely than elsewhere, we must stop the budget deficit AND reduce the debt. Repaying is the only way to reduce debt outside of hyperinflation or extreme growth.
The State therefore has the choice between selling goods and levying a tax. Selling goods is the first solution always explored by companies in financial difficulty.
Machine-translated from French
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- Le Figaro28 Oct, 07:15
| Publisher Le Figaro (established tier) | +76 |
| Detailed summary | +2 |
| Total | 78 |
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