IMF: Fed must hold careful economic course

[struggle4progress]

JEANNINE AVERSA
Associated Press

WASHINGTON - The Federal Reserve has a difficult task ahead as it seeks to put the U.S. economy on an even keel, the International Monetary Fund said Friday. <snip blather>

In other matters, the IMF warned the United States to get its fiscal house in order and trim its budget deficit, and it shouldn't rule out raising taxes to bring this about.

That's an unpopular notion with the tax-cutting Bush White House, which has sought to curb the deficit by reining in spending.

The IMF also stressed the importance of "reinvigorating the momentum" for overhauling the Social Security and Medicare entitlement programs. Those programs will place a massive strain on the government's resources from a wave of retiring baby boomers.

http://www.miami.com/mld/miamiherald/business/national/15148059.htm


Yes, the IMF seems to be warning the US to slash its social programs ...

[WCGreen]

1. Third World Status...

Here we come....

[ixion]

2. "sought to curb the deficit by reining in spending."

now, how in the hell can they get away with claiming that, when Bush has spent more than ALL PRESIDENTS COMBINDED, and created the largest government bureaucracy in the history of the US ('homeland' insecurity). :wtf:

Reigning in spending? Please, stop it. You're hurting my brain.