The International Monetary Fund (IMF) has issued a stern warning to the United States, urging the country to urgently address its mounting fiscal burden. The IMF criticized Washington for its persistent fiscal policy misalignment and large deficits, which are projected to reach $1.9 trillion this fiscal year, $400 billion more than expected. The national debt is expected to approach $57 trillion by 2034, nearly $2.5 trillion higher than previously projected. The IMF recommended raising direct and indirect taxes and finding efficiencies in discretionary and non-defense federal spending to curb rising debt levels. The Fund also highlighted the need for responsible budget reform to avoid jeopardizing America's economic and national security. Despite acknowledging the robust and dynamic growth of the U.S. economy, the IMF emphasized that unchecked debt could eventually undermine U.S. growth and lead to global financial distress. Since President Biden took office, inflation has risen by 20.1%, with gas prices up 55.3% and grocery prices up 21.2%.
#IMF says that the U.S. is running deficits that are too big and is weighed down by too much debt.
"President Trump said that he was going to balance the budget and ran up an $8 trillion debt. He spent more money than every president combined from George Washington to George W. Bush. And President Biden is now on track to beat him." https://t.co/YW1qcb3E8T
We must wake up to the threat America’s mounting national debt poses to the future of our country before it is too late. https://t.co/HS1uDmJIR7
Hardworking Americans have to spend over $12k more a year for essentials compared to 3 years ago. While prices continue to rise, real wages remain lower than when Biden took office. #Bidenflation has been a disaster for America and Biden’s reckless spending is to blame.
National Debt Crisis Will Destroy The USA (It Just Got Worse) https://t.co/kZHcf5UewS
President Biden’s economic policies have not only caused cumulative inflation to skyrocket, but they have also accelerated our accumulation of debt. According to the CBO, our national debt will surpass $50 trillion in a decade. We need to reverse course. https://t.co/U8TdF9TkyW
Americans cannot make ends meet under Bidenomics. The average Minnesotan has spent an extra $1,174 a month trying to keep up with inflation. https://t.co/O8zh7Iu0Ah
America's rising national debt is one of its greatest home-grown threats, writes William Ruger. https://t.co/xJkIYUVbux
Everyday Americans are waking up to go work for fewer wages and more taxes, barely affording to put gas in their cars to get there. Bidenflation and reckless spending from the Democrats are destroying the American dream.
#America's rising national debt is one of its greatest home-grown threats, writes @WillRuger and @thomas_savidge in @TheNatlInterest. https://t.co/P4ACeYFKB0
The federal budget deficit will hit $1.9 trillion this fiscal year according to the Congressional Budget Office – $400 billion more than expected. The nation’s debt will approach $57 trillion in fiscal year 2034, nearly $2.5 trillion higher than previously projected, as spending…
"With every deficit year, the indebtedness of the US government goes up, and with it the interest charges on the budget. Sooner or later...confidence in America and the American dollar will be undermined—some observers consider this practically imminent." — Peter Drucker, 1986 https://t.co/jTXRxaJ3Kv
Under the Biden Administration, budget deficits have skyrocketed. In 2024, government spending is projected to exceed revenue by nearly $2 trillion. BIDENOMICS = DROWNING THE US IN DEBT. https://t.co/f8pujdkfqc
Americans are now facing an increase of over $12,800 annually in expenses compared to three years ago. Under Biden, Americans are having to work harder to get less. https://t.co/gGzFhSygem
'The required fiscal adjustment will mean "difficult political decisions over the course of multiple years," the fund said, warning that an unchecked rise in debt could eventually sap U.S. growth and snowball into global financial distress.' https://t.co/lYImA37oxQ
Under President Biden, prices have risen 20.1%. Despite this out-of-control, spending-induced, inflation this administration continues to overspend and overregulate. https://t.co/N68IH2qhUs
-Record inflation. -Grocery prices out of control. -Mortgage rates on fire. -Americans maxing out credit cards. -Americans delaying retirement. -Gas prices on the rise. That’s #Bidenomics. https://t.co/QoFCjIBWtP
The International Monetary Fund has called on the #US to raise taxes to curb rising debt levels while applauding “robust, dynamic” growth in the world’s largest economy and progress toward bringing inflation under control. https://t.co/WGJcxTg6xF
US warned over ‘chronic fiscal deficit’ The International Monetary Fund (IMF) has criticized Washington for the persistent 'misalignment' of its fiscal policy https://t.co/Voz3BOGcvi https://t.co/uSPhDYsQ8J
Since Biden took office: 📈Overall inflation rose by 20.1% 📈Groceries are up 21.2% 📈Gas is up 55.3% Inflation is a tax on all Americans, we cannot afford another four years of Joe Biden.
IMF Blasts US for Risky Deficits, Debt, Trade and Bank Rules @business https://t.co/FLjzm4hd6K
The #IMF has urged the #US to raise direct and indirect taxes to curb rising debt levels and find efficiencies in discretionary and non-defense federal spending. https://t.co/oi7BNlAgup
If Congress wants to get America’s dire fiscal trajectory under control, it needs to lay the groundwork now. Delaying responsible budget reform until a crisis is on our doorstep puts America’s economic and national security in jeopardy. https://t.co/ljYnjP4pPS https://t.co/zwDcbkRjjC
Top Overnight News The IMF has urged the US to “urgently” address its mounting fiscal burden, as it took aim at the tax plans of both presidential candidates just hours before their first electoral debate. FT Japan’s economic data has a (slightly) hawkish bias, with higher…
US deficit, national debt. This is how it begins. #IMF Warns of ‘Pressing Need’ to Address U.S. Debt https://t.co/CuvIK9gkcU