Why was the French Treasury suddenly broke?

The French Treasury faced a financial crisis in the late 18th century due to a combination of factors, including costly involvement in the American Revolutionary War, mismanagement of finances, and an outdated tax system that exempted the nobility and clergy from many taxes. Additionally, poor harvests led to rising food prices and discontent among the populace, further straining the economy. This culminated in a significant fiscal deficit that ultimately contributed to the conditions leading to the French Revolution.