Investing in the futur when you have a hard time creating more value than you consume is exactly what you need to do. Reducing investment is precisely the way to reinforce the downward feedback loop. If they want to keep taxing the common man, they need them to create more value otherwise to are just taking larger and larger share of vanishing small value.

France does have money; it's just all concentrated in the boomer generation who is fighting hard to keep control. A large share of the debt is generated to keep this gerontocracy confortable at the expense of the youth and future.

Which means you need a return on the investment for it to work. Creating self sustaining industries that don’t need subsidies.

Tossing an absolutely mindbogglingly large subsidy to the 70 year old nuclear industry which never has delivered competitive products is not a good use of money. It is like saying we create value by going around breaking windows and paying people to fix it.

France’s problem is that if they don’t fix the spending issue on their own the bond market will do it for them. Maintaining the debt will be a larger and larger portion of the budget until the only option is solving the issue.

Cutting spending will lower GDP and push up debt as a percent of GDP. But it wasn’t real income when the debt you took on did not lead to productive outcomes. Just polishing a pig.