IMF warns on U.S. economy

[IDemo]

Source: CNN.com

Boost the U.S. economy now and worry about cutting deficits later, the International Monetary Fund recommended Tuesday.

The U.S. recovery remains "tepid" and according to the IMF, is expected to grow only 2% this year. Meanwhile, the fiscal cliff looms in 2013, threatening to reduce the economy's growth to only 1% next year.

Meanwhile, the IMF predicts the job market will improve only at a snail's pace. It expects the unemployment rate to average 8.2% this year and 7.9% in 2013.

Amid that weakness and threats from slower growth abroad, the IMF recommended U.S. policymakers spend more on infrastructure, worker training programs, extended unemployment benefits and fixes for the housing market.

Read more: http://money.cnn.com/2012/07/03/news/economy/imf-recovery/index.htm

[DallasNE]

1. This Sounds Like An Endorsement Of Obama's Policy

But the IMF is an easy target to attack so this probably helps Romney, which is the exact wrong response.

[chervilant]

2. Ahhhh, the niceties of propaganda...

Do you suspect that we're not hearing the truth about our global economic crisis? Do you recall that, until the collapse of the Knickerbocker Trust, economists and politicians called economic downturns "Panics"? We don't use such inflammatory language these days, do we?

I think the paternalistic and greedy hedonists who've tanked the global economy are 'walking on eggshells' in their efforts to prevent the Hoi Polloi from panicking about the ongoing socio-economic catastrophe threatening our entire species. Even as they struggle to restore some semblance of stability, they are primarily interested in maintaining and solidifying their hegemony.

IMHO, this 'economic downturn' promises to span at least the next two decades--if it doesn't end abruptly with a global collapse.

[dixiegrrrrl]

6. I always worry when the IMF shows such "concern" for a country.

That is step one of their "helping out" by supporting more debt servicing.

[IDemo]

7. Oh, come on

What was good for post-Allende Chile is good for the world!

[Chan790]

10. Generally I do too, but...

I don't see how they could say "America needs more debt-service" at this point. We have no problem obtaining debt-service on our own and we almost definitely have more debt than we should already.

I think even the IMF knows you can't buy your way to prosperity on the credit cards when you have a credit card debt problem to begin with.

[robinlynne]

3. Even the IMF gets it? Paul krugman has been alone sayng this for how many years?

[rfranklin]

4. Yeah, and the IMF are a bunch of European socialists!

It's true!

[Huey P. Long]

8. No, the IMF are a bunch of greedy exploiting corporatists. Truth. -eom

[lib2DaBone]

5. In other words...stop with the supply-side Reaganomics already...

quit pandering to the 1%....and bring the troops home.

(That alone would save $40 BILLION per month)

They just don't get it.. or they don't WANT to get it..

[Bossy Monkey]

9. Wait, is this the International Monetary Fund or the Impossible Missions Force?

Seriously, kudos for a rare recognition of reality from that quarter.