13 Hrs
Source:
CNN Arabic
Is America facing a familiar crisis
France is currently experiencing widespread unrest due to protests over the high cost of living, with riots escalating. At the same time, the country faces a severe financial crisis, as public debt has risen to approximately 119% of GDP and the budget deficit has exceeded 5.4%. The situation has worsened due to rising interest costs on bonds and increasing energy prices, threatening to increase France's debt burden even further, despite potential measures such as tax hikes or spending cuts, which are likely to encounter significant political opposition. In contrast, the United States possesses greater financial capacity, as the U.S. dollar remains the global reserve currency and its bonds are considered a safe haven. Additionally, the U.S. benefits from a large and resilient economy, enabling it to manage its debt crisis more smoothly, although there are challenges ahead, such as the upcoming increase in the national debt ceiling next year.
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