Friday, January 8, 2010

There's a Joke in here somewhere...

The Jan 2010 Irish Herald's lead article is titled "Harshest Budget in Living Memory", and describes the difficult budget decisions that must be made to more or less balance the Irish budget for 2010.  There are budget cuts totaling $6 billion, which is still less than 20% of the estimated budget deficit of $32 billion.  These cuts affect salaries and welfare.  There are increased taxes.  It sounds reminiscent of the California budget mess.  But, every cloud has a silver lining.
"(Finance minister) Lenihan sounght to offer one boost to public morale by cutting taxes on beer, wine, and liquor."
Apparently, there is a bit of supply-side economics here too to boost the economy:
"...sales in pubs and liquor stores represent an exceptionally high percentage of its (Ireland's) economic activity"

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