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TUESDAY, NOVEMBER 24, 2009
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While US Dallies, France Spends Its Stimulus

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(Newser) – France has a reputation for stifling bureaucracy and long vacations, but when it comes to stimulus spending, the country is racing ahead of the US. This summer, workers are completing massive renovation projects not just for roads and rails, but to museums and cathedrals, and royal palaces. According to the New York Times, France could emerge from recession as early as this quarter.

France's economy was mocked through the boom years for holding back growth, but in lean times the centralized system dispenses funds far more efficiently than the US. Many projects funded by the Obama administration's stimulus won't begin until next year, while France plans to spend 75% of its stimulus money in 2009. "America is six months behind," boasts the French minister overseeing the stimulus. "It has wasted a lot of time."

Nicolas Sarkozy speaks with workers as he visits a construction site in Paris.
Nicolas Sarkozy speaks with workers as he visits a construction site in Paris.   (AP Photo/Philippe Wojazer,Pool)
Nicolas Sarkozy is joined by workers and officials on a tour of the construction site of France's first new generation nuclear reactor in Flamanville, northwestern France, Friday, Feb. 6, 2009.
Nicolas Sarkozy is joined by workers and officials on a tour of the construction site of France's first new generation nuclear reactor in Flamanville, northwestern France, Friday, Feb. 6, 2009.   (AP Photo/Michel Euler, Pool)
Nicolas Sarkozy speaks with workers as he visits a construction site in Paris.
Nicolas Sarkozy speaks with workers as he visits a construction site in Paris.   (AP Photo/Philippe Wojazer,Pool)
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2 comments
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Reader22060479
Jul 7, 09 2:39 PM CDT
Well what's the hurry. It took our leader in the White House until he was 47 to pay off his student loan. Money is so utterly unimportant, - where it comes from or how it is spent. Reply
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SPH
Jul 7, 09 4:59 PM CDT
The US could loan the French a few Republican Senators...That ought to slow things down..... Reply
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