Have we paid 1.400 billion in interest on the debt since 1979?

The True False of the info with the panic of Jacques Cheminade when he looks at the debt.

The Solidarity and Progress candidate denounces the occupation of France by big finance, responsible for him for the major part of the abyssal debt of France.

Jacques Cheminade: "Our public debt was 239 billion in 1979, it is 2.170 billion today. During this time, we paid 1.400 billion in interest. That's a financial occupation"

We have paid 1.400 billion in interest on the debt since 1979, is it true or is it false?

It is rather true. We redid the calculation with the national accounts of INSEE, 1.350 billion in interest paid since 1979. The debt itself reached 2.147 billion at the start of the year. And this explosion is partly due, it is true, to the weight of interests. Because every year since the State is in deficit, therefore since 1975, it borrows on the markets to pay its current expenses. These loans generate interest which is accumulated on the sums due. For more than 20 years, the repayment of this interest swallows each year more than 40 billion.

What do we do to pay them? We borrow! Debt produces debt. Last year, for example, the state deficit was around 72 billion, but we borrowed 200 billion to make up the deficit and repay other loans. These 200 billion will have to be repaid. We do not realize it because interest rates have been so low for several years that even if the debt increases, the weight of interest remains. We pay the same today as when our debt was four times lower in 1996. But if rates were to rise by just one point, Agence France Trésor did the math: it would cost two billion more in the first year, then four, eight and 16 billion in 10 years. But who holds this debt? 60% foreign investors. That's why Mr. Cheminade talks about occupation. They will one day want to be reimbursed.

Is it a time bomb proposed by the candidates?

There are basically three schools.

The first: Marine Le Pen, Jean-Luc Mélenchon and Benoît Hamon, to a lesser extent, consider that there is not really a spending problem, but that big finance, the banks have gotten richer. The debt is partly illegitimate. We can renegotiate it, within the European framework for Benoît Hamon, within the national framework for Marine Le Pen, the Banque de France would then buy back the debts. In either case, the public authorities would regain control, even if it means canceling part of the debt outright.

Second school, that of Emmanuel Macron, wait-and-see. He wants to curb the increase in public spending, not reduce it, in the hope of reviving the economy. The idea is to redirect borrowing towards investment, and therefore spending for the future.

Finally third school, that of François Fillon: clean cuts in spending. 100 billion, to break the spiral of public debt.

Ed. 4th way to exit the Euro from Europe and NATO with the UPR: Elements of the UPR's response to the 1973 law...

Update 5th way with Revoludroit and Mrs. Bugault, for low-level reformatting