Sarkozy pledges $52b in spending cuts
Also seeks tax hike in reelection bid
Nicolas Sarkozy, fighting for a far-from-assured second term as French president, promised Thursday to slash public spending and increase taxes to set his indebted country on a more balanced path. His critics on the left said his pledges would unfairly hurt the poor and that he’s in part to blame for the high deficit and debt he’s now trying to cut. And it’s unclear whether Sarkozy’s promises would be enough to reassure investors who worry that France’s economic model is unsustainable.