Washington: deficit reduction is not a single solution

[yota691]

 

Washington: deficit reduction is not a single solution

U.S. Treasury Secretary Jacob Liu

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Wednesday, May 8, 2013 - 03:58 GMT Abu Dhabi 

Abu Dhabi - Sky News Arabia

Announced U.S. Treasury Secretary, Jakob Liu, Tuesday, that the reduction of the public deficit in the United States "important" but would not be "the only compass" for public action.

He said during a visit to Cleveland "as it is important, the issue of the deficit can not be our only compass. Reduce the deficit is not alone economic policy", according to the text of the speech which was distributed to journalists.

He pointed out that the "degree of urgency" applied in the re-evaluation of the public accounts must be the same in the field of "growth" of the U.S. economy and "getting people back to work."

"We must not forget that we still live with the wounds of the financial crisis."

With the approach of the meeting of finance ministers of the seven major industrialized nations on Friday and Saturday in London, Liu considered that the United States, the European Union adopted the "different ways".

He said, "we have followed a different path through Europe. Identified targets to reduce the deficit over a long period and our economy is currently growing up the deficit in the short term."

He explained that he could not return to prosperity in the event "flooded" fiscal policy the economy.

In order to address unemployment in the United States (7.5% in April), stressed Liu on the need to pursue a policy of ambitious public works in partnership with the public sector not to increase the country's debt, which will arrive this year to 108.1% of the net domestic product, according to the IMF.

Also denounced Liu بالاقتطاعات a mechanism in the budget that took effect in March, due to the failure of the Congress to the agreement, which threatens to increase federal expenses at a rate of $ 85 billion by the end of September.

Edited May 8, 2013 by yota691