Vive le socialisme

The New York Times:

France moved a step closer Thursday to issuing billions of euros in bonds to raise money to promote growth industries, even as a leading research group warned it could damage the country’s long-term fiscal future.

Two former prime ministers, commissioned by President Nicolas Sarkozy to study the most promising areas of investment, submitted proposals for a total of 35 billion euros ($52 billion) in new state spending.

The two former leaders, Michel Rocard and Alain Juppé, recommended that about half, 16 billion euros, go to universities and research. They also suggested investment should be focused on measures preparing France for a low-carbon economy, notably in transportation, urban design and energy policy.

Add a few zeros to the amount that France would like to borrow and you have the Obama Administration's economic policy in a nutshell.