“One thing we’re certain around the table, it was that if there is that degree of disruption, that lack of certainty, that lack of trust in the U.S. signature, it would mean massive disruption the world over, and we would be at risk of tipping yet again into a recession,” Ms. Lagarde said. She said the United States has to get serious about entitlement spending down the road, but that slashing spending in the near-term could be counterproductive. Read more: http://www.washingtontimes.com/news/2013/oct/13/imf-chief-us-dance-debt-limit-very-very-concerning/#ixzz2heovtyJT Follow us: @washtimes on Twitter
Isn't this the same BS we have been getting to 30 years? Has Lagarde not looked at the long term trend in US growth? Is she not aware of the rising income disparity? Our output growth capacity is zero, sweetheart, mainly because we have been taking bad advice from folks just like Lagarde.
She must be aware of the overwhelming evidence that the middle class picks up the tab. Doesn't she have some kind of economics degree?
Is she aware that a good 40% of the middle class, from the large states, have no real say in what happens, though they always pick up the bill? Has she determined what Congress will do when the interest costs ise to 40% of our budget? Can she even do simple budget calculations?
If our long term growth trend has gone to zero, and none of the economists who advocate increasing the debt have a clue as to why that happens.
<br/> Lagarde, you are nuts, leave American alone go be president somewhere else. Where did our new president come from? Lets ask wiki:
Previously, she held various ministerial posts in the French government: she was Minister of Economic Affairs, Finances and Industry and before that Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin.
Well that explains a lot.
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