Mildly encouraging signs have emerged that the Minister for Finance and Government has initiated early action amongst spending departments to obtain spending cuts from budgets in 2010.
However, the National debt shows no sign of abating its ruinous growth, based on the latest update of the national debt from the NTMA, which necessitated only a small adjustment in the Finance Dublin debt clock for this month.
It remains the case that there are just two alternative engines of recovery available to the Irish economy – the private sector, or the public sector. The Government, and an alternative Government, has to choose which horse it will back to restore the economy. The private sector horse has the form, because it has the experience, the talent, the production, engineering, marketing, and exporting expertise that will bring the Irish economy back to growth.
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