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« An Opportunity to Strike a Small Blow for Equity and Efficiency | Main | Stop the Presses! Cutting Public Sector Employment Actually Increases the Debt »

July 25, 2013

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6to5against

Relating to this, it always annoys me when politicians and commentators talk optimistically about us coming to the end of the austerity programme, as if all pain will cease the very day that we stop making cuts.

Similarly I recall both Alan Dukes and Leo Varadkar talking in the early days of the collapse about how it would be better to get the 'pain' over with quickly and to make the cuts in an even more speedy manner. They seemed oblivious to the fact that the only 'pain' that would pass quickly in that scenario is the political difficulties of the parties making the cuts. To them the fact that it would mean more people being out of work for longer was quite literally of no significance.

No doubt in a few years there will be some economic growth on some scale, and this will be used as evidence as to how everything has been 'fixed.' No account wil be taken of the fact that (almost) the entire population will still be struggling as a direct result of the many years of un-necassary cuts and attacks on wages and conditions.

I remember in the 70s how my father seemed angry almost every time he opened a paper. No doubt my kids will remember me in a similar way, and I am trying to stay away from papers for just this reason, as hard it is. (The sports pages used to provide some respite, but these days they just make things worse).

Seamus Coffey

Maybe the 'sinking-ship' metaphor should be combined with 'castles in the air'. We've sunk now but the foundations in 2007 weren't great.

"In 2007, the economy was generating a little over €43,000 for every woman, man and child."

How much of that was generated on the basis of borrowed money? Households and businesses increased their borrowing by €45 billion in 2007. That was a huge injection into the economy and generated a lot of economic activity.

It would be great to get back to 2007 levels of economic activity but doing so in the absence of borrowed money will be difficult. The government is borrowing close to the €15 billion of the €45 billion that was flowing into the Exchequer in 2007. The €30 billion that was moved in the private sector will remain absent.

bedroom furniture

great man :D

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