French deficits viewed through the lens of demographics

For the first time in its history, except during periods of major wars or epidemics, France will record more deaths than births this year. The collapse in fertility rates can be observed in many other developed countries. This major anthropological shift puts the budget debates in the National Assembly into perspective: they are nothing more than bad acting, with all parties seeking quick fixes (new taxes) to avoid tackling the root causes of government budget deficits, particularly pension and healthcare spending. Yet another tax on the rich or on businesses will not cover the growing costs of a welfare state that has become too generous.