IMF warns US must ‘urgently’ address debt burden

SunTrader · Jun 30, 2024

Overnight said:
Get yourself some edumacation on the IMF, friendo.
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This topic.

Yes they "warned" - so what.

TheDawn · Jul 1, 2024

Nighthawk said:
The International Monetary Fund said in a report Thursday that the U.S. economy “has turned in a remarkable performance over the past few years,” but added that there is now “a pressing need to reverse the ongoing increase in public debt-GDP ratio.”

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To accomplish that shift over the course of several years, the IMF report said that the U.S. has a number of tax and spending options. “However,” the report said, “policies will need to go beyond finding efficiencies in discretionary, non-defense federal spending. Policymakers will need to carefully consider raising indirect taxes, progressively increasing income taxes (including for those earning less than US$400,000 per year), eliminating a range of tax expenditures, and reforming entitlement programs. Putting these measures in place will necessitate taking difficult political decisions over the course of multiple years.”

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The report also called for lawmakers to take steps to avoid the annual spending fights and debt-limit showdowns that have become so common in recent years, saying that they “create systemic risks to the U.S. and global economy that are entirely avoidable.”

https://finance.yahoo.com/news/imf-warns-pressing-address-u-230756017.html

I argued for a long time that the US of A needs to increase taxes. Urgently. Otherwise, the government bond risk premiums will rise and uncle USD will go down the drain long-term.
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LOL The only incentive for borrowers to decrease the debt load is not to face the potential unpleasant consequences levied by the lender(s) when the lender(s) call in the debt and they find themselves not being able to pay up. It's US of A, with the strongest military in the world. Who dares to call in the debt of US of A? LOL So why would the US of A have an incentive to decrease its debt load?

TheDawn · Jul 1, 2024

Overnight said:
The IMF? The Bretton Woods/U.N. bullshit that goes and bails out the economies of shithole countries, while we the US taxpayers pay for their headquarters in Washington D.C.?

The United Nations needs to get the FACK out, get FACK out of the USA.
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Huh! I always thought IMF's HQ is in New York. Never knew they are in Washington DC.

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IMF warns US must ‘urgently’ address debt burden

SunTrader

TheDawn

TheDawn