The following graph shows the sharp rise in U.S. debt starting in around 2006. By 2015, the IMF suggests, debt could reach well over 100% of GDP.
The IMF predicts that the U.S. would need to reduce its structural deficit by the equivalent of 12% of GDP, a much larger portion than any other country analyzed except Japan. Greece, in the midst of a financial crisis, needs to reduce its structural deficit by just 9% of GDP, according to the IMF's analysis.
The report, released yesterday, also wades into the debate over healthcare reform, questioning the CBO's analysis that healthcare reform would reduce the U.S. deficit.
"There are some risks to the CBO estimates, however, including that the substantial decrease in Medicare payment rates to health care providers may prove difficult to implement," the report reads.
6 comments:
The train wreck has already happened , we are now counting who will survive. The people with the most ammo will survive!
The elite have blown out economy and run up our government's debt. Now after taking all the profits, they will expect the working class people to "pay" for the deficit (including interest on the money they printed).
buy when the markets down,not when you get a little money in your pocket.
sorry about the people who spend it as fast as they get it.buy low n sll high.its capitalism,check it out.
We should begin to reduce our debt load by withdrawing from the UN and the IMF. We fund both of these operations at exorbitant levels!
lol at 10:54-So I guess the "elites" are the ones using all the entitlements? They pay more into the system then any other economic niche, and use less entitlements then anyone else. Blame the louses who always have their hands out. The majority of the Fed budget goes to entitlements.
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