Wow - out of control spending

tails_naf

I just saw the table here:

http://en.wikipedia.org/wiki/Economic_history_of_the_Republic_of_Ireland#Government_Surplus_.28Deficit.29

It's amazing to see the spending go up by 5 and 10 billion a year, and keep going up in 2008 and 2009. Would love to see the 2010 numbers.

I know economics is hard, but when you see those 2 simple numbers, income and expenditure, it becomes obvious that the rate of income was tapering off in 06 - 07, but nothing was done till 2010*

We heard all the claims of 'it's not my fault, no one came to me with the numbers'. Well, right there are two, uncomplicated numbers that I would imagine any leader and finance minister should be looking at monthly.

It's funny, when you compare the country to a well run company (like the multinational I work for), where everyone, at every level of management watch the financial numbers like a hawk. This kind of revenue vs expenditure gap wouldn't escape for a quarter without measures being taken. Why? I guess because their jobs and bonus' depend on it!!

Interesting concept, no?


* I'm being generous when I say something was done in 2010!

Chucky the tree

2010
Receipts: €31bn
Expenditure: €49bn

Amazing how it was allowed to double from 2008 - 2009.

Laminations

Chucky the tree wrote: »

2010
Receipts: €31bn
Expenditure: €49bn

Amazing how it was allowed to double from 2008 - 2009.

I was looking at the table thinking this myself and then I remembered the extra hundreds of thousands who have joined the dole queues. I suppose that shows the importance of a stimulus plan or some kind of jobs growth strategy, things that were sorely missing from FF over the past few years as they bent over backways for the banks (for all kinds of reasons that never came to fruition - e.g. get them lending to SMEs; so we can remain in the bond Market) and focused their energies on getting us the worst deals possible. But don't worry, they have a plan now.... :rolleyes:

opinion guy

tails_naf wrote: »

I know economics is hard

Quantum physics, space engineering and neurosurgery are hard. Economics is p1ss-easy and yet still they messed it up.

thebman

Chucky the tree wrote: »

2010
Receipts: €31bn
Expenditure: €49bn

Amazing how it was allowed to double from 2008 - 2009.

I honestly think they were trying to pretend it wasn't having an effect to the public to stop any kind of initial back lash.

Monty Burnz

thebman wrote: »

I honestly think they were trying to pretend it wasn't having an effect to the public to stop any kind of initial back lash.

Exactly that.

It's the same reason they extended a blanket guarantee to all the banks - they hoped they could bull**** through it for a bit without a bank failure on their watch. Instead AIB, Bank of Ireland, Anglo Irish, Irish Nationwide and EBS have all quietly gone bust and are surviving on the tolerance of the ECB and tens of billions of taxpayers money.

'Making hard decisions' and 'putting the country first' my ass.

ei.sdraob

from this thread


and little older thread


dont forget that some expenditure and liabilities are hidden...