The Irish Experiment: Should the US be learning by example?
The nation of Ireland has hit a deficit of 32% (the US 2009 deficit stands around 12.3% of the GDP) and is undergoing a plan to slash their deficit by doing everything from eliminating thousands of state jobs, welfare benefits, and pension payments while raising university fees and taxes. Even Prime Minister Brian Cowen said that the standard of living will fall due to this. So, will the plan succeed? Should US politicians take serious note of how well the Irish pull out of this, or if they just go down even further?
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