will this spread?

France has announced new tax hikes on the rich and on businesses. Sound familiar? Anyway, France wants to stay at the core of the euro zone. The budget package will recoup 30 billion euros for the French government. This is the toughest budget in 30 years. Of the 30 billion in savings, 20 billion will come from households and companies.

To learn more read the Reuters story.

Could this happen in the United States? There seems to be a "more like Europe" movement in United States government. Congress broke for recess with a plethora of unfinished business. The consensus is that they don't want to grapple with the big issues. President Obama sends that message too.

I do have to give France credit. They are at least making an attempt. Will this kind of fiscal policy happen here at home? Oh I suppose we had better wait until the election is over.

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