It’s rare for an international organization to speak bluntly about a single nation’s policies. But that’s what the International Monetary Fund (IMF) did in its most recent report on the global economy.
Regarding the U.S. economy, the IMF said:
The strong recent performance of the United States reflects robust productivity and employment growth, but also strong demand in an economy that remains overheated. This calls for a cautious and gradual approach to easing by the Federal Reserve. The fiscal stance, out of line with long-term fiscal sustainability, is of particular concern. It raises short-term risks to the disinflation process, as well as longer-term fiscal and financial stability risks for the global economy. Something will have to give. [emphasis added]
That should be obvious to our political class and the voters who install them in office. But one would be hard-pressed to find signs of genuine, hard-nosed fiscal restraint on Uncle Sam’s policy menu. Instead, we have this:
Congress voted last spring to suspend the debt limit as part of a larger bipartisan deal aimed at reining in annual government funding with budget caps. At the time, the national debt stood at roughly $31.4 trillion, and has since risen by trillions more dollars in the past year, according to the Treasury Department.
In its long-term budget outlook report released earlier this year, the Congressional Budget Office estimated the national deficit would rise “significantly in relation to gross domestic product (GDP) over the next 30 years, reaching 8.5 percent of GDP in 2054.”
Since that puppet dance masquerading as fiscal restraint in the spring, the debt has risen to more than $34 trillion.
One can only wonder if it will reach an unfathomable $40 trillion by Election Day, when the major parties hope and pray you will vote for one of their aged, populist spendthrifts….and pay no attention to the red ink.
Something will give. And when that something gives, it won’t be orderly or painless. But it will be, and is, entirely predictable.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Nestlé announced Monday that it has eliminated artificial colors from all of its food
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
Global Financial Agency: US Economy Facing Calamity, Politicians In Denial
It’s rare for an international organization to speak bluntly about a single nation’s policies. But that’s what the International Monetary Fund (IMF) did in its most recent report on the global economy.
Regarding the U.S. economy, the IMF said:
That should be obvious to our political class and the voters who install them in office. But one would be hard-pressed to find signs of genuine, hard-nosed fiscal restraint on Uncle Sam’s policy menu. Instead, we have this:
Since that puppet dance masquerading as fiscal restraint in the spring, the debt has risen to more than $34 trillion.
One can only wonder if it will reach an unfathomable $40 trillion by Election Day, when the major parties hope and pray you will vote for one of their aged, populist spendthrifts….and pay no attention to the red ink.
Something will give. And when that something gives, it won’t be orderly or painless. But it will be, and is, entirely predictable.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Major Media Outlet Declares Bankruptcy
Norman Leahy
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Norman Leahy
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Search
follow us
subscribe
TRENDING STORIES
Brooklyn Coffee Shop Faces Firestorm After Publicly Shaming, Banning Congressman Over Pro-Israel Views
The Data Center Did Not Raise Your Power Bill. Ironically, More Demand Makes Electricity Cheaper.
Report Analyzes Qatar Funding For Islamic And Arabic Studies In US Schools
Why Was A Would-Be Trump Assassin Carrying A Remote Device With An Antenna?
SECURITY
Iran War Powers Resolution Clears Senate With Bipartisan Support
WASHINGTON — The Senate approved a House-passed war powers resolution Tuesday aimed at blocking
Downed US Pilot Described Iranian Drones Flying In ‘Jellyfish’ Formation Before Crash
A U.S. F-15E pilot shot down over Iran in April told intelligence officials he
New Trump Appointee Starts Mass Firings At Intelligence Agency: Report
Large-scale personnel cuts are now underway at the Office of the Director of National
Iran Announces Closure Of Strait Of Hormuz Following Israeli Strikes In Lebanon
TEHRAN — Iran announced Saturday that it is closing the Strait of Hormuz, accusing
FOREIGN AFFAIRS
Iran War Powers Resolution Clears Senate With Bipartisan Support
WASHINGTON — The Senate approved a House-passed war powers resolution Tuesday aimed at blocking
Brooklyn Coffee Shop Faces Firestorm After Publicly Shaming, Banning Congressman Over Pro-Israel Views
A radical Brooklyn coffee shop is facing growing backlash after publicly humiliating Rep. Dan
Man Accused Of Throwing Toddler Into Crocodile Enclosure Released On Bail In UK Zoo Attack Case
Police Say Suspect Was Not Known to Child and Was Deemed Unfit for Interview
Britain’s Prime Minister Resigns After Dramatic Collapse In Support
LONDON — British Prime Minister Keir Starmer announced his resignation Monday, ending a turbulent
BUSINESS & ECONOMICS
Former Federal Reserve Chief Alan Greenspan Dead At 100
Alan Greenspan, the influential economist who led the Federal Reserve through nearly two decades
The Awkward Truth Behind Matt Walsh’s Data Center Claim
Imagine a tenant who signs a lease everyone agrees is temporary, then asks the
Minority Contractors Say Obama Center Project Left Them On The Brink
Several minority-owned contractors and subcontractors involved in building the $850 million Obama Presidential Center
Trump Threatens 100% Tariff On French Wine Over Digital Tax Dispute
President Donald Trump has warned France that it could face a fresh trade battle
HEALTH & SCIENCE
Josh Shapiro Embraces ‘Medical Freedom’ Rhetoric As 2028 Speculation Grows
Pennsylvania Gov. Josh Shapiro is drawing attention for comments that appeared to echo one
Democrats Want Taxpayers To Fund Gun Control Advocacy Through The CDC
By Matt Manda Shooting News Weekly U.S. Rep. Valerie Foushee (D-N.C.) introduced legislation that would put the
VA Eliminates LGBTQ Programs Under New Trump-Era Directive
WASHINGTON — The Department of Veterans Affairs is ordering healthcare facilities nationwide to eliminate
Nestlé Says It Has Removed Artificial Colors From All American Food & Beverage Products
Nestlé announced Monday that it has eliminated artificial colors from all of its food
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
TOP TAGS
TOP CATEGORIES
FEATURES
American Liberty News ©2024
Evolution Digital Media
1900 Reston Metro Plz
Suite 600
Reston, VA 20190