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IMF urges US Congress to raise debt limit

Posted By admin On June 18, 2011 @ 12:40 am In Money Watch | Comments Disabled

AFP [1]
June 18, 2011

SAO PAULO — The International Monetary Fund on Friday joined calls for the US Congress to raise the country’s debt limit, warning that failure to act would risk a major global market upheaval.

“For the United States, it is critical to immediately address the debt ceiling and launch a deficit reduction plan that includes entitlement reform and revenue-raising tax reform,” the IMF said in an update of its April forecasts issued in Sao Paulo.

The US government hit its legal borrowing limit of $14.29 trillion on May 16. The Treasury has taken extraordinary technical measures to avert a debt default, but says it will run out of maneuvering room by August 2.

The issue of raising the debt limit is bogged down in Congress, where President Barack Obama’s Democrats are at loggerheads with Republicans, who control the House of Representatives.

Full article here [1]

IMF urges US Congress to raise debt limit  150709banner2 [2]

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[1] AFP: http://www.google.com/hostednews/afp/article/ALeqM5jLJADDNPzfocVb_dBTcEf_fkWHNg?docId=CNG.2ffd7d1270ae6cbe6fc6e14abb3d8682.9a1

[2] Image: http://www.prisonplanet.tv/

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Pelosi urges Obama to sidestep Congress, use 14th Amendment to raise debt ceiling: http://www.prisonplanet.com/pelosi-urges-obama-to-sidestep-congress-use-14th-amendment-to-raise-debt-ceiling.html

[5] Federal Borrowing on Pace to Hit Debt Limit in Less Than Week: http://www.prisonplanet.com/federal-borrowing-on-pace-to-hit-debt-limit-in-less-than-week.html

[6] Geithner asks Congress for higher U.S. debt limit: http://www.prisonplanet.com/geithner-asks-congress-for-higher-u-s-debt-limit.html

[7] White House Defends Obama’s Senate Vote against Raising Debt Ceiling But Warns of Catastrophe If GOP Doesn’t Raise Debt Ceiling: http://www.prisonplanet.com/white-house-defends-obama%e2%80%99s-senate-vote-against-raising-debt-ceiling-but-warns-of-catastrophe-if-gop-doesn%e2%80%99t-raise-debt-ceiling.html

[8] Geithner: Raise U.S. debt limit to infinity: http://www.prisonplanet.com/geithner-raise-u-s-debt-limit-to-infinity.html

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