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Thread: Children of the future being mortgaged to pay to pay our overgenerous Welfare Bill.

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    Default Children of the future being mortgaged to pay to pay our overgenerous Welfare Bill.

    The future generations of Irish Children are being mortgaged to an extreme extent to pay overgenerous welfare rates to the current population.

    More than 75% of the National debt is borrowed to meet current spending to service the 21 billion annual Welfare bill. 25% of the National debt has been borrowed to meet the cost of the destruction of the Irish Banks to ensure depositors got their money back.

    If progress can be continued in the management of the economy and finances the cost of servicing the National Debt can fall further.

    I have yet to hear many people complaining about this massive scale of borrowing to fund Welfare spending.

    The cost of servicing this debt will impact to a huge extent on the services that the children will get form the State in return for their future role as taxpayers.

    To what extent is it moral to impose debt on future generations of our Children. Certainly debt incurred to provide them with infrastructure, and providing them with education is good value for them, but debts felt to them for current spending must be immoral whatever the need of Welfare consumers!

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    Politics.ie Member linny55's Avatar
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    At least most of the welfare bill is paid to people in this country unlike paying the bondholders their gambling debts. Hurrah.

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    Boggle
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    Have you a breakdown on how that money is spent?

    One person costs about 10k per annum (dole) which at 400k unemployed gives you... approx 4 billion?

    What do we spend the other 17b on?
    Last edited by Boggle; 24th March 2013 at 03:18 PM.

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    Quote Originally Posted by linny55 View Post
    At least most of the welfare bill is paid to people in this country unlike paying the bondholders their gambling debts. Hurrah.
    Yes the logic of the bondholder bailout is not clear to me. That does not alter the fact that this borrowing to fund welfare is placing a huge burden on our unborn Children as well as those born who are not allowed to vote or have a guardian vote on their behalf!

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    Politics.ie Member Telemachus's Avatar
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    Quote Originally Posted by Ibrahaim Mohamad

    I have yet to hear many people complaining about this massive scale of borrowing to fund Welfare spending.
    [/quote]

    Well I have fpr one. I think there is a real normalcy bias in this country that states as long as "I'm" alright, sure everythings grand. Noonan, Enda and Howlin arent intelligent enough to realise exactly what they are doing. They are not competent enough to run the countries finances. Noonan is also I believe being told what to do by outsiders.

    Quote Originally Posted by Boggle View Post
    Have you a breakdown on how that money is spent?

    One person costs about 10k per annum (dole) which at 400k unemployed gives you... approx 4 billion... if I am haven't messed up on the calculator.

    What do we spend the other 17b on?
    See here:

    http://www.politics.ie/forum/economy...it-2013-a.html
    ..the Irish nation can become other than white, by privileging the voices of the racialised and subverting state immigration but also integration policies. Ronit Lentin

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    Quote Originally Posted by IbrahaimMohamad View Post
    The future generations of Irish Children are being mortgaged to an extreme extent to pay overgenerous welfare rates to the current population.

    More than 75% of the National debt is borrowed to meet current spending to service the 21 billion annual Welfare bill. 25% of the National debt has been borrowed to meet the cost of the destruction of the Irish Banks to ensure depositors got their money back.

    If progress can be continued in the management of the economy and finances the cost of servicing the National Debt can fall further.

    I have yet to hear many people complaining about this massive scale of borrowing to fund Welfare spending.

    The cost of servicing this debt will impact to a huge extent on the services that the children will get form the State in return for their future role as taxpayers.

    To what extent is it moral to impose debt on future generations of our Children. Certainly debt incurred to provide them with infrastructure, and providing them with education is good value for them, but debts felt to them for current spending must be immoral whatever the need of Welfare consumers!
    Not sure I would say it is overgenerous, just that it is open ended and lacks proportion or relativity. If you are ill equipped for the labor market and the best you can aspire to is a min wage job then the structure of SW system offers you a way of collecting more in benefits then a min wage less taxes will give you.

    Its no longer a safety net but a viable career choice.

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    Quote Originally Posted by Boggle View Post
    Have you a breakdown on how that money is spent?

    One person costs about 10k per annum (dole) which at 400k unemployed gives you... approx 4 billion?

    What do we spend the other 17b on?
    Social welfare supports families not people. If an unemployed person has an adult dependent they can receive an additional €125 per week. For each child under 18, unemployment benefit is increased by €30 per week.

    Anyway most social welfare does not go on unemployment benefits (€6 billion). It goes on pensions (€6 billion), child benefit (€2 billion), illness and disability (€4 billion) and employment supports (€1 billion).

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    Boggle
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    Found this here... Breakdown of Social Welfare spend • thepropertypin.com... from 2009 and I'd assume it's largely unchanged.

    Total budget: €20.848bn (approximately).

    Older people -- €4,614,970,000
    Widows, widowers, one parent families -- €2,570,345,000
    Child benefit -- €2,650,751,000
    Illness and disability -- €3,469,550,000
    Employment supports -- € 597,095,000
    Job-seekers supports -- € 4,094,732,000 (Dole)
    Supplementary welfare allowances -- € 950,919,000
    Miscellaneous payments -- €1,324,101,000
    Administration -- €575,567,000

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    Politics.ie Member Spanner Island's Avatar
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    Quote Originally Posted by IbrahaimMohamad View Post
    Yes the logic of the bondholder bailout is not clear to me. That does not alter the fact that this borrowing to fund welfare is placing a huge burden on our unborn Children as well as those born who are not allowed to vote or have a guardian vote on their behalf!
    They (the unborn and those too young to vote) can always emigrate...

    France is the same... even worse in fact...

    They simply don't give a flying f*** about future French generations it would seem...

    They want everything now and screw the future...


    At some stage something will have to give though... cos the current charade going on globally with fiat money and unsustainable debts and QE etc. isn't solving anything...

    It is possible at some stage in the future the global financial system will simply implode and a reset button will be hit, at which stage all the debts will be wiped... This could possibly occur when the young and unborn realise how current generations shafted them...

    Obviously all those with the money and power now will fight such an occurrence... as we're seeing currently with national and EU and global 'elites' siding with the 'Bastards of the Universe' and the w*nker bankers and not with their people...

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    Quote Originally Posted by IbrahaimMohamad View Post
    The future generations of Irish Children are being mortgaged to an extreme extent to pay overgenerous welfare rates to the current population.

    More than 75% of the National debt is borrowed to meet current spending to service the €21 billion annual Welfare bill. 25% of the National debt has been borrowed to meet the cost of the destruction of the Irish Banks to ensure depositors got their money back.

    If progress can be continued in the management of the economy and finances the cost of servicing the National Debt can fall further.

    I have yet to hear many people complaining about this massive scale of borrowing to fund Welfare spending.

    The cost of servicing this debt will impact to a huge extent on the services that the children will get form the State in return for their future role as taxpayers.

    To what extent is it moral to impose debt on future generations of our Children. Certainly debt incurred to provide them with infrastructure, and providing them with education is good value for them, but debts felt to them for current spending must be immoral whatever the need of Welfare consumers!
    Perhaps society should have thought about the children and the fall-out including long termed unemployment before collective stupidity and selfishness bought into the "boom" in the first place.

    BTW it's called temporal discounting in the world of economics.

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