Every morning, Nicolas Beytout analyzes political news and gives us his opinion.

This Wednesday, he returns to the alerts issued against "whatever the cost" by the First President of the Court of Auditors, Pierre Moscovici, and the Governor of the Bank of France, François Villeroy de Galhau.

This Tuesday, in quick succession, two warnings were issued on the pursuit of "whatever the cost".

Alerts issued by two indisputable authorities in the matter.

The First President of the Court of Auditors, Pierre Moscovici, and the Governor of the Banque de France, François Villeroy de Galhau.

The first presented a voluminous report on Tuesday which points to the "high" risk of France being in difficulty for several years to meet its debt.

The second, meanwhile, did not mince words: "Now, he said, the time has clearly come to get out of whatever the cost".

The "whatever the cost" is this policy of unlimited support decided by Emmanuel Macron to cushion the effects of confinements and the health crisis.

That's it.

A choice which turned out to be the only one possible to avoid the apoplexy of the country and its inhabitants.

Moreover, no one in the political class opposed it.

Right or left, they would all have done the same.

Except that distributing public money everywhere, that necessarily has a limit.

Since the first confinement, France has committed more than 400 billion euros.

Never in peacetime had she been so indebted.

And how do you get out of it?

Economically, we know very well what to do.

Not increase taxes because France is already hyper-taxed, but reduce public spending.

The problem is the political translation of this objective.

Where do we prune, where do we initiate a spending restriction plan?

For now, the tocsin of the two financial authorities echoes in the void.

The public debate has absolutely not taken up this subject.

And for good reason, it is politically very complicated to assume.

And besides, he's completely out of time.

Because of the election campaign?

Yes, although this is not a subject for the regions. No, Nicolas Beytout thinks rather of the other electoral campaign, that for the presidential one. The last time a candidate announced a massive plan to cut public spending was François Fillon, and it was an outburst against his so-called ultra-liberal program. Most likely, therefore, the subject will not be tackled head-on. On the other hand, it should be with regard to certain heavy deficit expenditure items: pensions and unemployment insurance. We can then quickly classify the programs into two categories: those who defend the idea that, to get out of "whatever the cost", it will be necessary to work more, and the others. Until then, we will have time to hear the alarm ringing again.