There you go again. What good is it if the govt. takes 100% of GDP and spends 110% of GDP? http://www.usatoday.com/money/world/2011-05-21-ireland-obama_n.htm
Maybe those low tax rates were too low? A lot of Ireland's debt is related to bailing out "private" banks.
Although Ireland's debt crisis was caused by a housing bust and credit meltdown far worse and more poorly managed than the U.S. version, there is one haunting similarity: government debt, counting what's owed by state and local governments, is in the same ballpark. "How much worse does it get if instead of taking care of the problem yourself, you allow the problem to take care of you?" says Joseph Minarik, senior vice president at the Committee for Economic Development. "Ireland got to the latter point. They had the situation rubbed in their faces," he says. Ireland's debt was about 25% of its economy before the housing and credit bust prompted the government to bail out the banks. Now it's 112% and rising. --- Obama's fighting to increase our debt to $14.4T, which is 100% of what GDP was in 2009.
Context... learn it. Now you're arguing just for the sake of arguing. Yes, he said "for them", and I said "relatively well". Take your lame game somewhere else. You're right. I didn't answer the question you were going off on a tangent about. Start a new thread if you want.
