According to the International Monetary Fund’s latest report, practically every developed economy is in debt. So everyone is in debt to someone else which is exactly the way the financial wizards of this world want to keep it. After all, we give them the license to literally print money which they then lend to us …
Tag Archive: Public Spending
May
01
Dec
06
TD’s had better think before voting.
As we get closer to the financial and social endgame resulting from Fianna Fail and the Greens governance are country, their incompetence and lies are laid bare for all to see. Those of us who were advised to go and commit suicide by the then leader Mr. Bertie Ahern and didn’t, can see their very worst nightmares coming to fruition. We knew it was going to be bad but we could never have conceived just how bad it has become. And this is really just the start.
In a speech in 2007 Mr. Ahern promised that in a fall would reduce the gap between what we spent and what we took in taxes than revenues. He lied. Mr. Cowen, who was then the finance minister, simply went along with what ever he was advised to do by those total incompetents in the Department of Finance. The big accountancy and legal firms operating in Dublin who oversaw audits of the major banks and financial institutions, and charged millions for it, reported that everything was okay, these companies also lied. Full article on www.EamonnBlaney.com
Oct
18
Public Service workers must be let go – A proposal.
My proposal for removing up to 100,000 public servants is relatively straightforward although it will have to be accompanied by substantial reforms in work practices, promotion policy, pension entitlements and attitude. For example, the defined benefit, indexed linked pension scheme is simply too expensive for our country to afford for the foreseeable future. The abolition of this pension must include all public servants whether employed now, in the past or in the future. If new legislation or constitutional amendment is required to make this happen, then so be it. The fact that there are people who retired over ten years ago and are presently receiving pension that are actually higher now than their salary they were on when they left, is outrageous.
Sep
26
Public job cuts will be worth the pain – Sunday Indo 26/9/2010
No doubt you are sick of listening to the radio, watching the television or reading newspapers and getting nothing but bad economic news.
Unfortunately, this is happening because our Government — and many of us — closed our eyes and ears to the reality of what was unfolding before the meltdown. The priority now is to resolve it the best we can and as quickly and as equitably as possible. To do so is going to require some major decisions, all of which will have substantial and far-reaching consequences for every one of us.
Finance Minister Brian Lenihan should immediately tell us what options he considered prior to the bank guarantee scheme and the implications of each. Not once, since this crisis began, have we been treated like adults and told exactly what options were considered. Instead, we were told the bank guarantee scheme is the only show in town, with no explanation whatsoever. Suspiciously, none of the other options (if any) have been discussed publicly by the Government.
Dec
08
Budget, How Are Ya ?
Why the public outcry over what will be the ‘most draconian’ budget in the history of the State ? The reason I ask is assuming that it does make it through the Dail vote all that it will have achieved is getting an additional €4 Billion into our public piggy bank. ‘ €4 billion, that’s an enormous amount of additional revenue” ? I hear you cry. It is enormous but it is not nearly enough. Unfortunately, since I pointed out in a previous posting (economic-civil-war-revisited ) the actual amount of our debt has increased by a further €8 Billion, simply because the Government did not act back in February when they knew the scale of the problem. If that’s not bad enough, next years spending will increase by an additional €5 Billion compared to this year !
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