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Economic News, Data and Analysis

IMF on US Budget

IMF doesn’t like the US budget situation.

IMF chides U.S. over budget – Aug. 27, 2003
IMF slams U.S. over budget Global lending agency says government assumptions too optimistic, not doing enough to fix deficits.
August 27, 2003: 6:16 AM EDT
MILAN, Italy (Reuters) – The International Monetary Fund is set to reproach the United States for being too optimistic in its assumptions on government spending and revenues and lacking a coherent budget plan, according to a summary of a draft report.
The report “criticizes the U.S. government’s excessively optimistic assumptions regarding the development of overall state spending and revenues and the lack of a medium-term concept to consolidate budgets and reform the social insurance system,” the draft said.
[…]
News of the IMF report comes a day after a congressional budget agency forecast a federal budget deficit of $480 billion in 2004, a record shortfall…

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