France is rioting over surging inflation, skyrocketing national debt, and crumbling schools. America is its sleeping twin

The fire that badly damaged Limoges’ 19th-century city hall was set on purpose, the local prefect said. By Sunday it was under control, and France was counting the damage: more than 2,400 arrests on Saturday alone, according to authorities, nearly 1,000 police and gendarmes injured, and hundreds of businesses looted in Paris, Marseille, Lyon, and other cities. Looting and fires continued Sunday night, and Prime Minister Sébastien Lecornu ordered localized curfews Monday. Interior Minister Laurent Nuñez admitted police “lost control” and offered to resign. President Emmanuel Macron refused.

America has worse inflation, as Fortune’s Jason Ma reported Monday. U.S. consumer prices rose 3.7% in the year through September, compared with France’s 3.4% on the EU-harmonized measure. What offsets it is growth. U.S. GDP rose 2.2% in the second quarter; unemployment is 4.2%; and wages are growing about 3.0% a year, below inflation. Meanwhile, France expects its economy to grow just 0.5% this year, and youth unemployment there is about 20%.

Set aside growth, and the two countries have a lot in common. And Americans aren’t thrilled about where the growth is coming from. Tech investment accounts for about a third of U.S. GDP growth, according to ING. Yet 39% of Americans now say AI does more harm than good, up from 31% a year ago, and 79% expect AI to cut U.S. jobs over the next decade, according to a Bentley-Gallup survey conducted in May. Among adults under 30, the harm figure is 47%. A Pew survey in June found 52% of Americans more concerned than excited about AI.

Start with the debt. French public debt sits at a record 119% of GDP, while U.S. debt held by the public........

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