What are the odds...

[Propforward]

Government to run deficit of almost €15bn - The Irish Times - Sat, Oct 11, 2008

THE GOVERNMENT is estimating an exchequer deficit of almost €15 billion next year

How accurate have their estimates been lately?
The budget looks like it will be savage - but won't this just exacerbate the economic problems?
In leaving cert economics we learned that when an economy is shrinking you invest in it to stimulate growth.
You provide tax breaks to incentivise.
You reduce interest rates to produce money flow.
They shoud have slowed down the growth when we had the good times and they slow down the recession now.

Taking money out of the economy (by not spending) will lead to unemployment and emigration.
and yet all the parties are in agreement.

[FutureTaoiseach]

This is simply untenable even in the medium term. A massive selloff of semi-states is needed to get a lot of these public-sector workers off the backs of the private-sector taxpayers.