Of Course.... leave it to the Republicans to screw the pooch..... http://www.usatoday.com/story/money/business/2013/06/14/imf-forecast-us-economy/2422903/
Tim Mullaney, USA TODAY 11:45 a.m. EDT June 14, 2013 [image: Christine Lagarde, head of the IMF] (Photo: Jacques Demarthon, AFP/Getty Images) Story Highlights - International Monetary Fund calls for sequester's repeal, more balanced budget approach - Forecast says U.S. long-term debt outlook remains 'unsustainable' - Urges more support for housing recovery, job training Federal budget cuts in the U.S are coming too fast and slowing the pace of the U.S. recovery, the International Monetary Fund says in a new assessment of the U.S. economy. The fund says the U.S. economy's growth will slow to 1.9% this year, down from 2.2% in 2012, a projection that is lower than those of some other economists. The group praised the Federal Reserve for keeping U.S. monetary policy loose by buying $85 billion of government and mortgage-backed bonds each month, saying that low inflation and high unemployment make the policy appropriate. In a press briefing Friday on the IMF's forecast, IMF managing director Christine Lagarde said the U.S. should slow down budget cuts now but move faster in shaping a longer-term deficit reduction plan that would take hold when the economy is stronger. "Slow down, but hurry up," she said. The U.S. economy is growing as housing markets improve, but efforts to reduce the federal deficit are cutting 2013 growth by between 1.25 percentage points and 1.75 points, the IMF said. "The nature of the recovery appears to be changing,'' the IMF staff wrote in its mid-year review of the world's largest economy. "The automatic spending cuts not only exert a heavy toll on growth in the short term but the indiscriminate reductions in education, science and infrastructure spending could also reduce medium-term potential growth.'' -- You received this message because you are subscribed to the Google Groups "Epistemology" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/epistemology. For more options, visit https://groups.google.com/groups/opt_out.
