"U.S. officials must act quickly to control government deficits or face slower growth and even more difficult choices in the future, the International Monetary Fund said Thursday in a report criticizing the tepid U.S. response to its rising public debt.
The IMF warning comes as federal officials grapple with a congressional projection this week that the annual deficit will reach a historic $1.5 trillion this year. This was the latest report to raise concerns about how massive government debts in developed countries could undermine the global economic recovery." Read more. "U.S. Must Reduce Deficit, IMF Warns"
Washington Post, January 28, 2011. Image by Michal Marcol / FreeDigitalPhotos.net.