International Monetary Fund Issues Warning on US Spending

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With the US deficit is expected to reach $400 billion this year, the International Monetary Fund this week issued a sharp warning about America's non-stop spend-and-borrow spree. The IMF warned that tax cuts and budget deficits pose a "significant risk" of causing a worldwide fiscal crisis. How real is the fiscal danger? What does the debt mean for the average American and for the rest of the world? What does it mean in an election year for Republicans who promised smaller government? Guest host Sara Terry looks at America's rising deficit and growing trade imbalance with economists at Goldman Sachs and the Center for Economic and Policy Research, a Republican policy and management consultant, an expert on government growth at the CATO Institute, and an official at the White House Office of Management and Budget.
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DHS Secretary Tom Ridge on lowering of terror alert

Meyer's article on French search for no-show passenger

International Monetary Fund report on US Spending

Congressional Budget Office

Faberg- from the Forbes Collection



Warren Olney