....its ministry of finance produces a statement like this....
An Exchequer deficit of €3,721 million was recorded in the first quarter of 2009 compared to a deficit of €354 million in the same period last year. Tax revenue was down year-on-year by €2.6 billion or 23%. Total net voted expenditure was just over €680 million or 6% above expenditure levels for the same period of last year.
A ten-fold increase in the fiscal deficit; tax revenues are down almost a quarter; while expenditures are up 6 percent.
The country? Ireland.
Which is why there was a supplementary budget in Ireland yesterday.
ReplyDeletewonder if Sinn Fein are still so keen on a united Ireland.
ReplyDeleteAs I heard it, Ireland was at least trying to cut expenses and wasn't going on a financial bender like we are in the States.
ReplyDeleteCouldn't they cure it by confiscating the wealth of that old crook Haughey?
ReplyDeleteGreat suggestion dearieme! :-)
ReplyDeleteOh, well - the Irish can drink and have a good crack about it. I would worry about the English: they always get all nasty and fascist when things don't work out for them.
ReplyDelete