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Hume on Socialist win in French presidential election

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  • Description

    Analysis on future of nation's economy

  • Duration 1:25
  • Date

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-- thoughts about the French economy and some analysis about the elections -- the economy here -- Brett breath.

What happened in France this weekend as proof of a universal political truth.

The hardest thing to do in politics is not to raise taxes or wage war though both can be highly unpopular.

The hardest thing is to cut the growth of government benefit programs once -- in place and people have come to expect and depend on them.

French workers enjoy almost complete job security generous government benefits -- that many of them to retire in their mid fifties at nearly full salary.

The government now account for more than half of the French economy in the country's debt now equals more than 80% of its annual output.

Last January S&P downgraded the country's credit rating sound familiar.

The Sarkozy government tried imposing spending cuts and tax increases to -- off the kind of debt crisis now engulfing Greece.

Voters this weekend said not still all that and elect of the socialist president who promised an end to the austerity.

This will not end well it brings to mono Alec how Alex -- Tocqueville famous saying that republic will last until quote.

Politicians realize they can bribe the people -- their own money and quote.

To -- was a freshman but he wasn't talking about France.

He was talking about America whose dad is also exploding -- benefit entitlement benefits are expanding.

And his credit has been downgraded.

This is not like that and well either.

-- -- this with the panel Brit.

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