What was a negative effect from King Louis XIV?

He had spent so much money that his successor (Louis XV) inherited a 400 million livres debt. Louis XV tried to fix this by making the French pay high taxes. He excluded the clergy and nobility from paying taxes though. He did not manage to have the debt payed off, so when Louis XVI succeeded him, France was as good as bankrupt, and was declared so in 1788, one year before the revolution broke out.