Sir, – Paddy Healy blames the recent sharp decline in employment on austerity measures designed to close Ireland’s massive budget deficit (December 15th). Technically this is right. Reducing the artificial stimulus created by budget deficits is going to have an effect on the wider economy, including employment.
But to blame austerity for this is to draw the wrong conclusion altogether. The drug of unsustainable debt is the problem, not the withdrawal symptoms we feel when getting back on the wagon.
It is always tempting to blame politicians for everything. But the simple reality the Government faces is the same as that faced by every household in Ireland: no matter how hard it is to live within your means, you cannot spend more money than you earn. – Yours, etc,