{"id":10483,"date":"2025-06-04T11:27:30","date_gmt":"2025-06-04T09:27:30","guid":{"rendered":"https:\/\/vendome-investment.com\/?p=10483"},"modified":"2025-06-04T11:37:07","modified_gmt":"2025-06-04T09:37:07","slug":"le-mythe-de-sisyphe-des-finances-publiques","status":"publish","type":"post","link":"https:\/\/vendome-investment.com\/en\/le-mythe-de-sisyphe-des-finances-publiques\/","title":{"rendered":"Le mythe de Sisyphe des finances publiques"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">La France est-elle au bord de la faillite&nbsp;? Non mais elle s\u2019en rapproche. La dette publique d\u00e9passe 113 % du PIB et elle continue \u00e0 augmenter en raison d\u2019un d\u00e9ficit primaire, avant paiement des int\u00e9r\u00eats, de plus de 3 points de PIB. La S\u00e9curit\u00e9 sociale, serait selon le Pr\u00e9sident de la Cour des Comptes, Pierre Moscovici, menac\u00e9e de d\u00e9faut de paiement du fait de l\u2019accumulation des d\u00e9ficits. La solution passe par un transfert rapide \u00e0 la Caisse d\u2019Amortissement de la Dette Sociale (CADES) ce qui suppose d\u2019en proroger l\u2019existence. Cette caisse, rappelons-le, \u00e9tait cens\u00e9e \u00eatre supprim\u00e9e en 2009\u2026 Nul ne croit d\u00e9sormais \u00e0 sa disparition en 2033 comme cela \u00e9tait pr\u00e9vu par la loi du 7 ao\u00fbt 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">La dette publique fran\u00e7aise s\u2019est mue en rocher de Sisyphe. Chaque tentative de redressement des finances s\u2019av\u00e8re un exercice vain. Il y a plus de 17 ans, le 21 septembre 2007, Fran\u00e7ois Fillon, alors Premier Ministre de Nicolas Sarkozy, avait d\u00e9clar\u00e9, \u00ab <em>je suis \u00e0 la t\u00eate d\u2019un \u00c9tat qui est en situation de faillite<\/em>&nbsp;\u00bb r\u00e9pondant \u00e0 des exploitants agricoles corses qui lui demandait des appuis financiers. Trois Pr\u00e9sidents de la r\u00e9publique se sont succ\u00e9d\u00e9 sans que rien ne change. L\u2019objectif des 3 % du PIB en 2029 appara\u00eet, au vu de la tendance de ces derni\u00e8res ann\u00e9es, impossible \u00e0 respecter. Pour 2026, Fran\u00e7ois Bayrou r\u00e9clame 40 milliards d\u2019euros d\u2019\u00e9conomies sachant que la simple r\u00e9duction de moins de 200 millions d\u2019euros des prises en charge m\u00e9dicales assur\u00e9es par les chauffeurs de taxis met, ces derniers, en \u00e9moi. La parole publique ne porte plus. Les Fran\u00e7ais sont inquiets de la d\u00e9rive des finances publiques mais n\u2019ont aucune confiance en leurs repr\u00e9sentants pour l\u2019endiguer. Ils n\u2019acceptent a priori aucun effort consid\u00e9rant qu\u2019ils en font d\u00e9j\u00e0 depuis des ann\u00e9es. Ils demandent \u00e0 ce que soit les autres soient mis \u00e0 contribution\u2026 L\u2019absence de consensus avec un \u00e9lectorat fragment\u00e9 complique la mise en \u0153uvre d\u2019un assainissement. La France s\u2019est mise dans un corner avec un taux de pr\u00e9l\u00e8vements obligatoires de 43 % \u2013 un des plus \u00e9lev\u00e9s d\u2019Europe \u2013 et avec des d\u00e9penses publiques dont le niveau est sans \u00e9quivalent au sein de l\u2019OCDE. Par d\u00e9magogie, par \u00e9lectoralisme, par faiblesse, depuis des d\u00e9cennies, les pouvoirs publics ont multipli\u00e9 les concessions, les aides, les niches fiscales. Toute renonciation, tout sacrifice est consid\u00e9r\u00e9 comme la remise en cause d\u2019un droit acquis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plusieurs pays europ\u00e9ens ont \u00e9t\u00e9 confront\u00e9s \u00e0 des crises majeurs de leurs finances publiques, la Gr\u00e8ce, le Portugal et l\u2019Espagne. Ils en sont sortis par la r\u00e9alisation d\u2019\u00e9conomies courageuses et par la restauration de la croissance. Sans cette derni\u00e8re, la r\u00e9duction des d\u00e9ficits publics ne peut qu\u2019\u00eatre un chemin de croix. Avec elle, c\u2019est beaucoup plus facile. Pour renouer avec l\u2019expansion, la solution est assez simple mais \u00e9videmment impopulaire : il faut travailler plus. La France ne peut pas continuer \u00e0 \u00eatre un pays o\u00f9 le taux d\u2019emploi est faible et o\u00f9 la dur\u00e9e de travail par actif l\u2019est tout autant.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">La France est un pays de gamme moyenne avec un faible volume de travail mais poss\u00e8de un syst\u00e8me de protection sociale haut de gamme m\u00eame si, comble de l\u2019ironie, de plus en plus de Fran\u00e7ais en doute.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Jean-Pierre Thomas<\/strong>, <strong>Pr\u00e9sident de Thomas Vend\u00f4me Investment<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>La France est-elle au bord de la faillite&nbsp;? Non mais elle s\u2019en rapproche. La dette publique d\u00e9passe 113 % du PIB et elle continue \u00e0 augmenter en raison d\u2019un d\u00e9ficit primaire, avant paiement des int\u00e9r\u00eats, de plus de 3 points de PIB. La S\u00e9curit\u00e9 sociale, serait selon le Pr\u00e9sident de la Cour des Comptes, Pierre [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":10490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,24],"tags":[],"class_list":["post-10483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-edito","category-publications"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Le mythe de Sisyphe des finances publiques &#8226; Thomas Vend\u00f4me Investment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vendome-investment.com\/en\/le-mythe-de-sisyphe-des-finances-publiques\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Le mythe de Sisyphe des finances publiques &#8226; Thomas Vend\u00f4me Investment\" \/>\n<meta property=\"og:description\" content=\"La France est-elle au bord de la faillite&nbsp;? Non mais elle s\u2019en rapproche. La dette publique d\u00e9passe 113 % du PIB et elle continue \u00e0 augmenter en raison d\u2019un d\u00e9ficit primaire, avant paiement des int\u00e9r\u00eats, de plus de 3 points de PIB. 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