Federal budget cuts in the U.S are coming too fast and slowing the pace of the U.S. recovery, the International Monetary Fund says in a new assessment of the U.S. economy.
When even the original Austerians think we’re too austere… well… I reckon there’s a problem.
Even more interesting is the advice from Director Lagarde:
In a press briefing Friday on the IMF’s forecast, IMF managing director Christine Lagarde said the U.S. should slow down budget cuts now but move faster in shaping a longer-term deficit reduction plan that would take hold when the economy is stronger.
In “TheresMoreVille,” we’ll see who else has been espousing such a strategy…
Now, most of us agree that a plan to reduce the deficit must be part of our agenda. But let’s be clear: deficit reduction alone is not an economic plan. A growing economy that creates good, middle-class jobs – that must be the North Star that guides our efforts. Every day, we should ask ourselves three questions as a nation: How do we attract more jobs to our shores? How do we equip our people with the skills needed to do those jobs? And how do we make sure that hard work leads to a decent living?
A year and a half ago, I put forward an American Jobs Act that independent economists said would create more than one million new jobs. I thank the last Congress for passing some of that agenda, and I urge this Congress to pass the rest.
just a snippet from the 2013 SOTU.