The Hollande disaster begins
You get what you elect, whether you're New York City electing a nanny and a scold for a mayor, or whether you're France, electing a Socialist instead of making necessary reforms to an already bloated government sector that promises greater benefits than the productive sector can possibly subsidize.
So the Hollande disaster is beginning for France. Today, Hollande decreed that they would LOWER the retirement age, from 62 down to 60.
“We committed to put this measure in place quickly for social justice for those who started working early,” said Social Affairs Minister Marisol Touraine.
The reforms will cost the state billions of euros a year but can be afforded through higher worker and employer contributions, according to the government.
That's right--while the prudent Germans are trying to persuade the Greeks that they can no longer expect to collect full retirement benefits at age 50, Socialist France decides to go down the Greek road rather than the German road.
You get what you elect.
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