Paul Krugman has a thoughtful post (ht Niamh Hardiman) on Ireland’s role as poster child for austerity. He points out that those in power continually cite Ireland’s imminent recovery as proof things are getting better and sticking to their plan works. Paul doesn’t mention our lack of fiscal headroom or the need for fiscal consolidation of *some* kind–whatever that might be-but I think it’s implicit.
At any rate, his point is more about how Ireland is used as an example of what great things austerity policies can achieve, when clearly, they can’t. At least, not on their own.