tag:blogger.com,1999:blog-11719208.post4448740207000264019..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: The budget axe is wielded in IrelandTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-11719208.post-81191457345113361332009-12-09T16:50:13.038-08:002009-12-09T16:50:13.038-08:00The US needs to trim public salaries, and especial...The US needs to trim public salaries, and especially benefits. After laying off about half of them in the first place.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-33529498682713540262009-12-09T16:10:51.649-08:002009-12-09T16:10:51.649-08:00I think it's inaccurate to say the economic bo...I think it's inaccurate to say the economic boom was "just a credit and housing bubble". The Irish economy showed remarkably high rates of export-led economic growth from 1993 - 2001. It was from 2001 onwards that the growth was generated from unsustainable housing prices and easy borrowing. The picture isn't as clear-cut.<br /><br />As it happens, the only real tax increase was a modest carbon tax on fuel. In fact, duty taxes on some items were reduced.<br /><br />All in all, the budget was about trimming state employee wage rates, and social benefits which were both unsustainably high. Most Irish citizens are unaffected by this budget.Unknownhttps://www.blogger.com/profile/09769023023308541050noreply@blogger.com