In Ireland's Deep Budget Cuts, An Omen For A Heavily Indebted United States? -- Washington Post
DUBLIN -- Is this the ghost of America's future?
Like other heavily indebted nations around the world, Ireland is borrowing vast sums from foreign investors to plug its budget deficit. Fearing that the country will buckle under the weight of so much debt, the Irish have an answer: Put the government on a diet.
More than $4 billion in cuts coming into effect after New Year's Day will slash salaries for 400,000 government workers while making painful reductions in benefits for such groups as widows and single mothers to the blind and disabled children. A tax targeting rich Irish nationals living overseas -- dubbed the "Bono Tax" in the Irish press -- will help restock empty coffers at home. Even Prime Minister Brian Cowen, who earns about as much as President Obama, is taking a 20 percent pay cut.
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My Comment: The Washington Post story ignores the impact that government cuts on their budgets will have on their military .... but it does not take a genius to figure out that all the services will be impacted .... and deeply. As for the U.S., some in the military are now getting ready for the cuts that are coming .... but how deep is something that I will leave to your imagination.