Post by amoeba15 on Jul 16, 2012 14:57:22 GMT -5
The other main threat to global economic growth is in the United States, according to the IMF.
"In the short term, the main risk relates to the possibility of excessive fiscal tightening in the United States, given recent political gridlock," the report states.
What the heck is the fiscal cliff?
The so-called fiscal cliff represents trillions of dollars in poorly conceived spending cuts and tax increases that start to go into effect in January. Such measures include the expiration of the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 "temporary" tax breaks for individuals and businesses that have been on the books for years.
The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."
money.cnn.com/2012/07/16/investing/imf-outlook/
"In the short term, the main risk relates to the possibility of excessive fiscal tightening in the United States, given recent political gridlock," the report states.
What the heck is the fiscal cliff?
The so-called fiscal cliff represents trillions of dollars in poorly conceived spending cuts and tax increases that start to go into effect in January. Such measures include the expiration of the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 "temporary" tax breaks for individuals and businesses that have been on the books for years.
The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."
money.cnn.com/2012/07/16/investing/imf-outlook/