Borrow more and the country will be damned

THE latest figures on the economy ought to leave no one in any doubt that the problems facing this economy are deepening by the day.

We also have a banking system on its knees and a tax revenue base that is evaporating with each passing month.

Finance Minister Brian Lenihan delivered to the country some more home truths in the Dáil on Thursday when he warned the tax take this year will fall to €34 billion, having forecast that the figure would be €39bn in early January.