Ireland Is Not The United States

Ireland is not the US. The US can issue debt in the same currency that it prints. The printing press solution is not an option for Ireland. With that said, only the naive would assume that all 'options' will not be considered if the printing solution fails in the US.

Headline: Irish Bombshell: Government Raids PRIVATE Pensions To Pay For Spending

The Irish government plans to institute a tax on private pensions to drive jobs growth, according to its jobs program strategy, delivered today.

Without the ability sell debt due to soaring interest rates, and with severe spending rules in place due to its EU-IMF bailout, Ireland has few ways of spending to stimulate the economy. Today's jobs program includes specific tax increases, including the tax on pensions, aimed at keeping government jobs spending from adding to the national debt.

The tax on private pensions will be 0.6%, and last for four year, according to the report.

Source: businessinsider.com

From Bob