I expected the IMF to come in and eliminate waste all round us and take a big chunk out of the budget deficit. But no, we're still borrowing millions every day and making our basket case of a country even worse in the long run.
Are they blind?
Hi Teatime
I agree that we need to make much deeper cuts.
Brendan
+1 What RIAD BSC has posted.
What rationale is being followed by those who continue to advocate cuts?
You cannot cut your way out of a recession.
You cannot continue to make cuts without causing severe structural damage to an economy.
YES, true, reducing the fiscal deficit is delflationary.
Jobless improvements for the balance of payments figures do nothing for the indigenous economy.
Yes, true, export-led growth may not be as labour intensive as the domestic economy.
We cannot do this by more cuts!!!
We need to grow our economy and our jobs and skills base.
We need to NOT specialise solely in high-tech and smart jobs.
DO those too, but develop a broad-based economy.
In other words, not the Greens blinkered approach.
ONQ.
I strongly suggesting that we cannot approach dealing with a recession through CUTS!
We need to grow the indigenous economy, create jobs and get the multiplier effect working for us rather than against us.
I agree. What multiplier are you talking about?
Why do I seem to be the only one advocating this policy of growth promotion - its the obvious way to go, yet no-one is interested!
Sure of course everybody promotes growing output/incomes.
But the fiscal deficit has to fall. They are not mutually exclusive. You can have a growing economy with a falling fiscal deficit.
And before we make any more cuts, we need some government minister to have a serious talk with retailers.
I saw a "bargain" for sweeties the other day a fiver for two bags. I did a double take. €2.50 a bag is supposed to be a bargain?
Ridiculous!
Agreed. Retail rents and other overheads are too high.
Acc and audit fees must fall.
Legal fees must fall.
GP and other medical fees must fall.
Lower property costs will HELP the economy.
ONQ.
I hear a lot of people say this, and I genuinely don't understand the argument. Before the arrival of the IMF, I saw the rationale for it, and it made sense to cut deeper as we struggled to get market lenders to keep faith with us. Now, we have a four-year funding package and our funders have declared themselves happy with our proposed cuts.
I strongly suggesting that we cannot approach dealing with a recession through CUTS!
We need to grow the indigenous economy, create jobs and get the multiplier effect working for us rather than against us.
Why do I seem to be the only one advocating this policy of growth promotion - its the obvious way to go, yet no-one is interested!
And we need to invite a lending bank to come in here an satisfy our economic needs, apply whatever stringent tests are requried to lend - that's a given - but lets get this show on the road again.
In the late 70s and most of the 80s we spent our way to financial ruin and recession. Then we cut fairly savagely and soon after, during the 90s, a period of real economic and productivity growth started. The same happened earlier in the early 80s in the UK. Bill Clinton, despite his beatification by "the left" imposed severe welfare cuts which preceded years of impressive productivity growth. Even the most important of the few examples which Keynesianism uses as evidence - the New Deal - was tempered by an overriding desire to maintain a balanced budget.You cannot cut your way out of a recession.
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