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US faces one of biggest budget crunches in world – IMF

Discussion in 'The Economy' started by Tropo, 16th May, 2010.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    Earlier this week, the Bank of England Governor, Mervyn King, irked US authorities by pointing out that even the world’s economic superpowerhas a major fiscal problem -“even the United States, the world’s largest economy, has a very large fiscal deficit” were his words.
    They were rather vague, but by happy coincidence the International Monetary Fund has chosen to flesh out the issue today. Unfortunately this is a rather long post with a few chunky tables, but it is worth spending a bit of time with – the IMF analysis is fascinating.

    more... US faces one of biggest budget crunches in world – IMF – Telegraph Blogs
     
  2. Johny_come_lately

    Johny_come_lately Well-Known Member

    Joined:
    1st Jul, 2009
    Posts:
    703
    Location:
    SE Queensland
    While the doomies say our country has too much debt, Table 6 shows Australia to be in a good position.

    If fact Australia has the second best gross debt(the best being Hong Kong).
    I think we are very lucky.



    Johny.