Public debt: why so much indifference?

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The French public debt is widening without panicking many people, with the exception of a few specialists. Where does this disinterest come from?

By Kevin Badeau

Une astronomical slate. French public debt reached 2,950 billion euros at the end of 2022, or 111.6% of gross domestic product (GDP), according to INSEE data published on March 28. At the rate at which the State is increasing spending, the debt of public administrations should cross the symbolic threshold of 3,000 billion in the course of 2023.

This figure, although highly symbolic, nevertheless invites itself into the economic news without triggering lively debates, eclipsed by pensions and the use of 49.3. “Public opinion is not homogeneous when it comes to debt perception. One part is worried about crossing 3,000 billion, another seems disinterested, ”observes economist Jean-Yves Archer, specialist in public spending.