The National Debt Clock

[hammer]

We should pay down €20 billion of this debt with the NPRF. We would be saving 5% per annum. We would have another €1 billion in our coffers next year.

We`ll worry about OAPs in about 10 years time.

Sell off all State assets and use proceeds to pay down debt. Even Joe the Plumber is paying down debt

[ne0ica]

See Ireland's national debt mount before your own eyes.

FinanceDublin.com - Irish Debt Clock

64,557,230,522 before I started this thread. What a nice figure....

Afraid the current generation of politicans, trade union officials, public sector workers and the public at large don't seem to have much guilt about passing all this to future generations.

[WTTR]

Afraid the current generation of politicans, trade union officials, public sector workers and the public at large don't seem to have much guilt about passing all this to future generations.

Look! The argument is that we live in a Democracy. We have a party system. During the 2007 Election, our then esteemed Taoiseach launched the Fianna Fail Manifesto

Speaking at the launch of the document entitled Securing Prosperity: The Next Steps Forward, the Taoiseach Bertie Ahern committed FF to �virtually eliminating� the national debt by 2012. Irish Examiner - 2007/04/17: FF promises to ‘virtually eliminate’ debt

The opposition party candidates were in their own way trying to out do the FF approach. A number of people knew that this was all a load of rubbish and the people were been deceived. Some ran as Independent Candidates and highlighted the true situation and called for an Enquiry into the viability of Banks in Ireland, one and a half years before our Government were taken by surprise with the looming bank crisis National Emergency Enquiry into Banking called for!

The people believed the politicians from the established political parties. FF was voted back into power on the basis of their document "Securing Prosperity".

So don’t worry, Be Happy! Fianna Fail, the guys in power; they who have access to all the figures, says that the National Debt is to be virtually eliminated by 2012. The people have every confidence in their democratic system.

[hammer]

Sure some Fianna Failers still believe Bertie told the truth at the tribunals

[Slinky]

The latest figures show that the US debt clock has reached the 13 trillion mark!

United States National Debt Clock

Debt to the Penny (Daily History Search Application)

This is roughly twice Ireland's debt per capita! What are we so worried about?

[hammer]

You may need to get your calculator out. $43,000 = €34,400

Irish debt excluding SPVs €83,000 million
Population 4 million = Average debt €20,750

Roughly twice.........dont think so.

[Slinky]

You may need to get your calculator out. $43,000 = €34,400

Irish debt excluding SPVs €83,000 million
Population 4 million = Average debt €20,750

Roughly twice.........dont think so.

Thanks Hammer. I did fish out the old calculator......

At current exchange rates......... 42,205.00 USD = 34,685.08 EUR

Ireland's population is actually nearer to 4.5 mil giving a national debt(excluding SPVs) of approx 18,798 EUR

So... 34,685 / 18,798 * 100 = 184.5% .......... roughly twice!!!

[hammer]

I hear you.

Add in SPVs and we could be worse than USA.

[hammer]

Read today that the Pension Timebomb facing the exchequer at December 31, 2008 according to the CCAG was €101,000 million

Puts everything else in the shade.

[cheg2010]

[ame=http://www.youtube.com/watch?v=5D0VhS8qXT0&feature=player_embedded]YouTube - Clarke and Dawe: Lending merry-go-round[/ame]