IMF to U.S.: Raise the Debt Ceiling quickly

[TechguyLA]

http://www.foxbusiness.com/markets/2011/07/25/imf-to-us-raise-debt-ceiling-quickly/?test=MM

[Markinsa]

IMF to U.S.: Raise the Debt Ceiling Quickly

Published July 25, 2011

| Reuters

Reuters

The International Monetary Fund warned on Monday the United States must raise the debt ceiling quickly and get its debts under control for the sake of the global economy.

The IMF made the appeal as part of a review of U.S. economic prospects in which it concluded a slow-paced recovery can continue with some fiscal tightening but stressed that public debts were a concern.

``Directors (on the IMF board) highlighted the urgency of raising the federal debt ceiling and agreeing on the specifics of a comprehensive medium-term consolidation program,'' the IMF said as efforts continued between the Obama administration and lawmakers to craft some plan to avoid a potential U.S. debt default.

With an Aug. 2 deadline approaching, after which the United States may not be able to issue more debt, lawmakers have so far refused to compromise on a plan to raise the $14.3-trillion legal borrowing limit and come to grips with spending and tax issues.

The IMF said some action to get debts under control must start in fiscal 2012, which begins on Oct. 1, or the United States will face a disruptive loss of credibility.

``The strategy should include entitlement reforms, including additional savings in health care, as well as revenue increases, including by reducing tax expenditures,'' it said.

IMF staff said risks to the U.S. outlook were rising. Those include the possibility of a sudden increase in interest rates or a sovereign downgrade in U.S. debt -- basically a decision to rank the United States as less creditworthy -- if agreement to raise the debt ceiling and install a medium-term plan for debt reduction is not soon reached.

``These risks would also have significant global repercussions, given the central role of U.S. Treasury bonds in world financial markets,'' the IMF said.

While calling for a debt-reducing agreement, the global lender also cautioned that an ``excessively large upfront fiscal adjustment'' should be avoided because that would further dampen domestic demand and slow growth.

At best, it estimated only a soft expansion for the U.S. economy from 2012 onward, likely between 2-3/4 percent and 3 percent that would bring only moderate income gains and slow reduction in heightened unemployment rates.

Read more: http://www.foxbusine.../#ixzz1T8bzqVdS

[bamagirl]

LOL, didn't you know, everything has something to do with th RV, jk. Go RV!!!!

[Shelley]

Do you think our Govt will tell us about this ??? I doubt it !!!!!

[wpsmit]

RV,RV,RV!

[speculatorsRIDE]

If they end up stopping the pay for our military or hold up the social security checks for our seniors then they should also stop all paychecks for members of Congress, House of Representatives and the White House. If we as a nation are unable to fund our military personnel and seniors then we shouldn't fund our lawmakers until they start earning their pay and take care of this deficit mess they have created. Raising the debt ceiling is not the solution. Cutting the overspending is the solution.

[OhMyGoodnessKate]

If they end up stopping the pay for our military or hold up the social security checks for our seniors then they should also stop all paychecks for members of Congress, House of Representatives and the White House. If we as a nation are unable to fund our military personnel and seniors then we shouldn't fund our lawmakers until they start earning their pay and take care of this deficit mess they have created. Raising the debt ceiling is not the solution. Cutting the overspending is the solution.

Couldn't have said it any better myself.

I would just like to add the welfare and socialist programs for the lazy bastards who don't want to work to that list as well.

[Don & Rocio]

Couldn't have said it any better myself.

I would just like to add the welfare and socialist programs for the lazy bastards who don't want to work to that list as well.

Amen Kate! Now that unemployment for those lazy bastards is now 3 years, that only makes them lazier...and makes us even more broke!

[OhMyGoodnessKate]

Amen Kate! Now that unemployment for those lazy bastards is now 3 years, that only makes them lazier...and makes us even more broke!

I guess I just find it bizarre that I have less as an individual even though I've worked my arse off, yet other people have this false sense of entitlement to my money?

Has everyone gone completely mad?!

[redrock]

If they end up stopping the pay for our military or hold up the social security checks for our seniors then they should also stop all paychecks for members of Congress, House of Representatives and the White House. If we as a nation are unable to fund our military personnel and seniors then we shouldn't fund our lawmakers until they start earning their pay and take care of this deficit mess they have created. Raising the debt ceiling is not the solution. Cutting the overspending is the solution.

Agree totally! They got us in this mess and we should be cutting their pay until we get their attention!

[Don & Rocio]

I guess I just find it bizarre that I have less as an individual even though I've worked my arse off, yet other people have this false sense of entitlement to my money?

Has everyone gone completely mad?!

Socialism at it's finest!! I agree that a morale nation should help those that are less fortunate but it should be at our own free will....NOT rammed down our throats by the Govt. I think we'd see more generousity if the Govt backed off and let people give out of the kindness of our hearts. Of course there will always be those greedy bastards that dont give a dime but I guarantee that Kharma will get them in the end.

[RV on my mind]

Washington post put out an article today saying that the President said "NO" to a bipartisan agreement brought to him this morning by, John B. and Harry Reid. They also continued to say that it "IS" the most shameful act of any President in the history of the US. Obama is intentionally trying to destroy this country. I have no doubt about this.

[RVnow4meplease]

If they end up stopping the pay for our military or hold up the social security checks for our seniors then they should also stop all paychecks for members of Congress, House of Representatives and the White House. If we as a nation are unable to fund our military personnel and seniors then we shouldn't fund our lawmakers until they start earning their pay and take care of this deficit mess they have created. Raising the debt ceiling is not the solution. Cutting the overspending is the solution.

I AM IN TOTAL AGREEMENT WITH THIS! let march on Washington.

[tooter39]

DITTO on everything posted......

[Darin]

If they end up stopping the pay for our military or hold up the social security checks for our seniors then they should also stop all paychecks for members of Congress, House of Representatives and the White House. If we as a nation are unable to fund our military personnel and seniors then we shouldn't fund our lawmakers until they start earning their pay and take care of this deficit mess they have created. Raising the debt ceiling is not the solution. Cutting the overspending is the solution.

Interesting argument.... At face-value, you think an act like this would add the correct pressure..

However, I believe that most poltiicians, could easily survive days, weeks, and some of them likely years without receiving their Govt. pay-check.

They're paid a great amount, and likely were successful in other areas prior to entering the govt sector with the political world.

But, in no doubt, it would add some pressure..

[mikep05]

Just wondering what are the actualwords that are really being sais behind closed doors!

[jlymonstone]

That is exactly what Komrade O wants is to ruin this great country, he and his cronies. They do not want prosperity and free market. I am still amazed at the idiots that agree with him and think he is doing a good job. But then again most of those idiots are getting WIC checks, food stamps, SSI, free cell phones, Section 8 and all the other freebies.

[TheQuazz]

Washington post put out an article today saying that the President said "NO" to a bipartisan agreement brought to him this morning by, John B. and Harry Reid. They also continued to say that it "IS" the most shameful act of any President in the history of the US. Obama is intentionally trying to destroy this country. I have no doubt about this.

He is intentionally trying to destroy this country. He has been since elected .

Now that I've said that I'm now a racist who hates him because he's black and not

because I knew what his socialist idealologies would mean for our country.

Hopefully not on this board, but any conversation with leftist ****tards has come

back to the point of race. That's all they have, that and blame Bush for everything.

[mikep05]

OK This time the "IMF" is saying it .....u guys believe the imf when it comes to rv??? now what about the debt ceiling????

[TheQuazz]

That is exactly what Komrade O wants is to ruin this great country, he and his cronies. They do not want prosperity and free market. I am still amazed at the idiots that agree with him and think he is doing a good job. But then again most of those idiots are getting WIC checks, food stamps, SSI, free cell phones, Section 8 and all the other freebies.

I'd give you more +1's if they would let me!

[bear]

I guess I just find it bizarre that I have less as an individual even though I've worked my arse off, yet other people have this false sense of entitlement to my money?

Has everyone gone completely mad?!

YES THEY HAVE!!!! Same here, I have worked since I was 12 years old and never been without a job. It just kills me that there are a lot of people out there that think we owe them. FOR WHAT, the big problem is we give anybody that comes to this country money. If I was to loose my job today and collect unemployment, something I have never done. When that ran out you think we could get on welfare. They would tell me to go find a job, you are able. I could keep on ranting bout this but I will stop.

[OhMyGoodnessKate]

YES THEY HAVE!!!! Same here, I have worked since I was 12 years old and never been without a job. It just kills me that there are a lot of people out there that think we owe them. FOR WHAT, the big problem is we give anybody that comes to this country money. If I was to loose my job today and collect unemployment, something I have never done. When that ran out you think we could get on welfare. They would tell me to go find a job, you are able. I could keep on ranting bout this but I will stop.

I could also only post a bit about how I felt... then I felt my blood pressure rising, so I had to let it go

[2fast4u2c]

If this has to do with RV and the US has dinars, why would we need the debt ceiling raised?

[FishmanTx]

Why do they always have to mess with Medicare and SSI? There are many, many more items they could do away with rather than jack with old folks, retirees, and kids. How about WELFARE reform and MEANS testing? How about a cap on their FRIGGIN' SALARIES? How about NO MORE AID TO FOREIGN COUNTRIES THAT DON'T REALLY NEED IT? There are TONS of things that could be cut. Dump the Dept of Education as that responsibility belongs to the states anyway. Dump the IRS and go to the Fair Tax. Reform or dump the EPA.

Last but not least; NO SUBSIDIES TO ANYBODY EXCEPT FARMERS! PERIOD!

You want change? Get off your asses and get involved! If you don't, you have no reason to B*TCH!

Just sayin'.......

"I've said m'piece and counted to three!"

Oh Brother Where Art Thou

Neil

Edited July 25, 2011 by FishmanTx

[Priscilla]

Why do they always have to mess with Medicare and SSI? There are many, many more items they could do away with rather than jack with old folks, retirees, and kids. How about WELFARE reform and MEANS testing? How about a cap on their FRIGGIN' SALARIES? How about NO MORE AID TO FOREIGN COUNTRIES THAT DON'T REALLY NEED IT? There are TONS of things that could be cut. Dump the Dept of Education as that responsibility belongs to the states anyway. Dump the IRS and go to the Fair Tax. Reform or dump the EPA.

Last but not least; NO SUBSIDIES TO ANYBODY EXCEPT FARMERS! PERIOD!

You want change? Get off your asses and get involved! If you don't, you have no reason to B*TCH!

Just sayin'.......

"I've said m'piece and counted to three!"

Oh Brother Where Art Thou

Neil

So, Obama says Social Security may not be paid after 8-2-11 if they don't reach an agreement. I have a better idea. Rather than not paying the people who need that small check every month, let's not pay any politician for the next year and see if that helps them to work a little harder for US, the little people..