EC4004 students will remember Dr Aidan Kane's guest lecture a few weeks ago, slides here, when he suggested that Ireland was fiscally dans la merde, and this situation would get worse once the November tax returns are in.
Guess what? They're in. Here the figures are, and they are not pretty reading. We are 7,894,761 euros in the red today, and it's getting worse.
Arthur Laffer is a rare economist. He has lived to see his theories enacted as policy at the highest level over many years, and those theories have been shown, everywhere they've been tried, to be false. Here he is debating Peter Schiff two years ago.
Listen to what both men are saying, and ask yourself, with the benefit of your hindsight, who was right: Schiff or Laffer. Schiff should go on the programme again, and this time, his interviewers won't be so smug.
Though all the talk is about the US economy, their analysis holds pretty well for Ireland.