IMF sounds alarm on U.S. debt, warning 'something will have to give' - UPI.com
==========
The International Monetary Fund (IMF) has warned the United States that its rampant spending and growing national debt are not sustainable and could threaten the global economy. The IMF's latest report states that the U.S. national debt and fiscal deficit could lead to sky-high inflation levels. The U.S. federal budget deficit grew from $1.4 trillion in fiscal 2022 to $1.7 trillion last year, and the debt is projected to exceed $45.7 trillion within a decade. Despite inflation and growing debt, the IMF praised U.S. economic growth, projecting a 2.7% growth rate for this year. The Biden administration blames the country's debt on former President Trump's tax cuts. The IMF warns that the U.S. fiscal stance is out of line with long-term fiscal sustainability and raises short-term risks to the disinflation process and longer-term fiscal and financial stability risks for the global economy. The IMF calls for a cautious and gradual approach to easing by the Federal Reserve.
#Imf #UsDebt #GlobalEconomy #Inflation #FiscalDeficit #EconomicGrowth #TaxCuts #FederalReserve
https://www.upi.com/Top_News/US/2024/04/16/international-monetary-fund-national-debt-warning/4711713315482/
UPI News /
npub1up…p85da
2024-04-17 04:56:42
Author Public Key
npub1up366k34ghh433r7pchkdx4wjalhdrqnnh7ssjqexn7jhzzrs6fsup85daPublished at
2024-04-17 04:56:42Event JSON
{
"id": "b6e6e4866037e796cabb3367596b0a1fd9f9dfaefc4412a16dd6f4597eca1e48",
"pubkey": "e063ad5a3545ef58c47e0e2f669aae977f768c139dfd08481934fd2b88438693",
"created_at": 1713322602,
"kind": 1,
"tags": [],
"content": "IMF sounds alarm on U.S. debt, warning 'something will have to give' - UPI.com\n==========\n\nThe International Monetary Fund (IMF) has warned the United States that its rampant spending and growing national debt are not sustainable and could threaten the global economy. The IMF's latest report states that the U.S. national debt and fiscal deficit could lead to sky-high inflation levels. The U.S. federal budget deficit grew from $1.4 trillion in fiscal 2022 to $1.7 trillion last year, and the debt is projected to exceed $45.7 trillion within a decade. Despite inflation and growing debt, the IMF praised U.S. economic growth, projecting a 2.7% growth rate for this year. The Biden administration blames the country's debt on former President Trump's tax cuts. The IMF warns that the U.S. fiscal stance is out of line with long-term fiscal sustainability and raises short-term risks to the disinflation process and longer-term fiscal and financial stability risks for the global economy. The IMF calls for a cautious and gradual approach to easing by the Federal Reserve.\n\n#Imf #UsDebt #GlobalEconomy #Inflation #FiscalDeficit #EconomicGrowth #TaxCuts #FederalReserve\n\nhttps://www.upi.com/Top_News/US/2024/04/16/international-monetary-fund-national-debt-warning/4711713315482/",
"sig": "e3a741d14ae4f3a54d4d0f39cab0ae2a18925e4fb756c5e02922bfbf77ddbf9c1f93e27a342f306bc0d23e7e939fd78904cfe3b8328370c85c97d572c8843c5b"
}