Romney sees Ireland as the benchmark for government overspending.

[NYCKY]

Romney says: “The President is remarkably comfortable with trillion dollar deficits as far as the eyes can see despite the fact that looking down the road we’re only a few years away from the level of debt that Greece and Italy and Spain and France and Ireland has endured. That’s not the right course for America. If I’m president I will not allow this, in my view, immoral borrowing to continue.”

What is the difference between Ireland and the US (all as a % of GDP)?

General Government Revenue: 34.6 v 31.6
General Government Expenditure: 44.9 v 41.3
General Government Balance: -10.3 v -9.6
General Government Primary Balance: -6.7 v -8.0
General Government Gross Debt 106 v 100

What are these figures meant to mean and where are they from?

Unlike Ireland the US didn't surrender it's economic sovereignty and unlike Ireland, the US has so far been successfully able to roll over its debt.

That's the difference between Ireland and the US.

[Deadlock]

Ireland wears big-boy trousers.
If Ireland had a problem with ECB interest rates it was up to Ireland to do something about it.
The ECB wasn't preventing Ireland from regulating it's banks.

Or it's insane developper lead and land owner friendly tax policies.

[Mr. Blobby]

Ireland will be a case study in most economic books for the next 20 years, as a fine example of a property crash and banking crisis and what not to do to alleviate the situation.
In 2032 the end of such a case study will probably read "Ireland is still reeling from the bad decisions made by Fianna Fail and struggling to return to growth..."

[Eméid MacCearain]

Greece? He probably thinks its in Ireland.

gingirich announced a 'covert' operation to remove the government of Cuba at a Primary debaye in Florida....
his understanding of covert is a bit odd dont ya think.

its stange i dont know which one i hate most!

[Taxi Driver]

What are these figures meant to mean and where are they from?

Unlike Ireland the US didn't surrender it's economic sovereignty and unlike Ireland, the US has so far been successfully able to roll over its debt.

That's the difference between Ireland and the US.

The figures are five measures of a country's fiscal position. There are 2011 figures and are taken from the IMF. The thread title suggests that Ireland is a "benchmark" that the US does not want to emulate. The figures show that the difference is not as large as such a claim might suggest.

The main reason why the US will always be able to roll over their debt is because they control their own currency.

[TropicalCandy]

Ireland will be a case study in most economic books for the next 20 years, as a fine example of a property crash and banking crisis and what not to do to alleviate the situation.
In 2032 the end of such a case study will probably read "Ireland is still reeling from the bad decisions made by Fianna Fail and struggling to return to growth..."

Ireland will be a case study in most economic books for the next 20 years, as a fine example of a property crash and banking crisis and what not to do to alleviate the situation.
In 2032 the end of such a case study will probably read "Ireland is still reeling from the bad decisions made by Fianna Fail...and compounded by their successors... and struggling to return to growth..."

Fixed that for you.

[leftsoc]

Ireland will be a case study in most economic books for the next 20 years, as a fine example of a property crash and banking crisis and what not to do to alleviate the situation.
In 2032 the end of such a case study will probably read "Ireland is still reeling from the bad decisions made by Fianna Fail and struggling to return to growth..."

Actually, economics is such joke these days, that it will be accepted wisdom that Ireland was destroyed by Socialist mis-governemnt. After all, most younger people firmly believe that Ireland was a Socialist state until McSharry came and saved the day in '87. And why wouldn't they ? that is the line that is trotted out by the econmists and media commentators all the time. No mention that no tax was clollected except from workers (No tax was even due from the 16% that were in farmimg!) So a crisis of tax collecting was transformed into a crisis of spedning.

By 2025 history will be rewritten, and the Socialist Bertie will be a warning against all those Red menaces like health care etc. There will be no mention of the banks or the Galway tent. Already we have econmists welcoming the fiscal compact as a neccessary correctop for folis electors,, oblivious to the fact that we would not have contravened it up to 2008, and to the fact that it will not prevent a repaet of the exact same crisis 20 years from now!

[TropicalCandy]

Actually, economics is such joke these days, that it will be accepted wisdom that Ireland was destroyed by Socialist mis-governemnt. After all, most younger people firmly believe that Ireland was a Socialist state until McSharry came and saved the day in '87. And why wouldn't they ? that is the line that is trotted out by the econmists and media commentators all the time. No mention that no tax was clollected except from workers (No tax was even due from the 16% that were in farmimg!) So a crisis of tax collecting was transformed into a crisis of spedning.

By 2025 history will be rewritten, and the Socialist Bertie will be a warning against all those Red menaces like health care etc. There will be no mention of the banks or the Galway tent. Already we have econmists welcoming the fiscal compact as a neccessary correctop for folis electors,, oblivious to the fact that we would not have contravened it up to 2008, and to the fact that it will not prevent a repaet of the exact same crisis 20 years from now!

I've always found the McSharry myth hillarious ''HE MADE THE CUTS IN 87 and by god it caused a boom....er...ten years later''