The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.
While speaking about the lack of leadership in dealing with our debt problems Jose Vinals, director of the IMF's monetary and capital markets department said, "You cannot afford to have a world economy where these important decisions are postponed, because you're really playing with fire."
Just as startling, Vinals said, "If you make a list of the countries in the world that have the biggest homework in restoring their public finances to a reasonable situation in terms of debt levels, you find four countries: Greece, Ireland, Japan and the United States."
Read the whole story HERE.
No comments:
Post a Comment