good heavens, if that is true...then the US is truly gone off the deep end. Ireland? next we’ll be taking advice from Iceland....
Follow Ireland’s example? Do they mean we should foist the Kennedys on some other country?
From the article
Having had a long run of high growth and success, Ireland has now had a severe bust, the deflation of a housing bubble, and a financial crisis. Plus, its government is running big deficits. Sound familiar?
In response, the current Irish government budget takes these steps (translating from euros to dollars and rounding):
• Government employees’ salaries up to $40,000 will be reduced by 5%.
• The next $54,000 of salary will be reduced by 7.5%.
• The next $74,000 of salary will be reduced by 10%.
When these tranches are added together, this gets you up to salaries of $168,000. Government salaries over this amount may be subject to marginal reductions of as much as 15%.
This looks like a very sensible plan for nonmilitary government employees.
Ireland has already worked out the plan. All the U.S. has to do is implement it.