The IMF Sounds the Warning Bell

[Sabocat]

IMF delivers strong warning on growth of US debt
By Nick Beams
12 January 2004


The International Monetary Fund has sounded the alarm on the state of US finances, warning that the growth of external debt and the increase in the budget deficit are threatening global financial stability.

The warning came in a 60-page report entitled “US Fiscal Policies and Policies for Long-Run Stability” published last Wednesday. It said that large US budget deficits posed “significant risks” for the US and the rest of the world and that the rising US external debt, estimated to hit the equivalent of 40 percent of gross domestic product within the next few years—an “unprecedented level” for a large industrial country—could destabilise international financial markets.


Read the rest... http://www.wsws.org/articles/2004/jan2004/...4/imf-j12.shtml (http://www.wsws.org/articles/2004/jan2004/imf-j12.shtml)

[STI]

Well, when you give massive tax cuts to the mega- rich, and wage a multi- billion dollar war, your debt tends to grow. It's grade- level adding and subracting, really.

PS, I'm not criticizing you, or your posting of this. My tone was directed at the Bush administration.

[Inti]

well thats what happens when a not too smart a guy wants war and at the same time want support from the rich few.. Im sad that he cant pay it out of his own pocket.. Perhaps we could send him to gulag to work off the debt... A classic moron that bushman.... sorry, didnt want to disrespect any bushmen, but I dont like the guy named Bush that is president of the Estados Jodidos de America...