The questions for French fiscal policy in 2021

What fiscal policy should France conduct in 2021? This raises three main questions: Is it possible to continue to have a fiscal deficit that offsets the full loss of GDP for households and companies, like in 2020? The answer is probably yes, as the ECB will continue to buy government bonds; Is it better to stimulate household income and consumption, or primarily employment and investment? French households have accumulated huge savings, so it seems pointless to transfer more income to them . The more effective idea would be to stimulate employment with supply-side policies so as to restore household confidence; Is there a limit to public debt that finances efficient investments? The answer is no, given the level of very-long-term interest rates, the challenge being how to pick efficient investments.