Just watching Vincent Browne now.. He keeps mentioning that the social welfare fund is about to collapse...does anyone know any more?

I'm not on social welfare myself, but I am just wondering what are the implications for the country? Will that mean even more borrowing?

It just gets worse and worse.

Social Insurance Fund will be broke in 3 years

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Seabhcan on EU Enlargement and the Lisbon Treaty: "There is no shortage of cheap labour - Turkey isn't needed."

Dont worry , the imf/eu wont let us sink .surely?

They said on the show at the current rate it would be bust by the end of 2009...I am assuming thats a best case scenario like most government estimates these days, and in reality it will be out of funds by late Summer...what then?? borrow again?

Surely we can't keep borrowing? If we end up 100 billion, 200 billion in debt, does it mean the country will officially become a basket case.

I just don't understand how the country is broke and yet there are still golden handshakes for the big boys in politics and the wider public sector. It's like stealing the China on the Titanic before it sinks, these people have no class, morals, principles or patriotism. Get as much money as possible out of the state before it goes under seems to be the goal.

They will have to try and get it off the taxpayer or the Bond market Ponzi scheme

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The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals... it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted." --Thomas Jefferson to John W. Eppes, 1813.

You certainly dont want to be upsetting the 'underclass ' at this juncture in history. It will have to be borrowed.

And who exactly going to be lending it to us?

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Seabhcan on EU Enlargement and the Lisbon Treaty: "There is no shortage of cheap labour - Turkey isn't needed."

Good question .

Social welfare is running at 20 billion plus. It needs slashed. The dole here is four times the Northern equivalent. I know some genuinely needy people will be hurt, but that gap has to be closed.
I'm not saying the tax-dodging gombeen kleptocracy shouldn't be paying too. I fervently hope to see property tax loops closed, stud farms taxed, a third tax band for higher earners and jail for corrupt politicians and bankers.
But I am also saying that we have an unsustainable social welfare bill, and we need to be thinking of firstly eradicating nonsenses like paying for kids in Poland, secondly reducing the welfare rates to a more affordable level and thirdly capping the time one can spend in receipt of the dole.
It is, after all, intended to be a support measure for those who find themselves without employment. The idea is that you use it to support yourself while seeking work. It was never intended to be a lifestyle choice for an underclass.

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But what are the other social provisions like in the UK ? I heard that social housing and health are better . Is that true ?
Cos if people only had a roof over their head , they would be less demanding on the state .imo.Im thinkin mainly of people on rent allowance , feeding private landlords.