IMF, OECD say US budget deficit threatens recovery

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=4830223

WASHINGTON, April 14 (Reuters) - The U.S. government's budget deficit came under fire on Wednesday from two global institutions saying a plan to halve the record gap by 2009 may not be enough to stop long- term damage to the world economy.

The International Monetary Fund and Organization for Economic Cooperation and Development said in separate reports on the U.S. economy there was concern the positive impacts of the deficit in leading a global recovery could not last.

The U.S. budget deficit is forecast to grow as much as 4.5 percent of gross domestic product this year.

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"The assumptions about the deficit that the U.S. administration had -- that it will fall to half this fiscal year 2004 level in the next five years -- relies on a number of assumptions which could be questioned," Rajan told reporters.

"It's within the realm of possibility, but I think that it would be good if there were stronger measures put in place so as to contain the deficit."

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government, and a third-world sovereign nation in the first term of office. Moreover, mounting evidence that the dots weren't connected, with many asleep at the switch, and for good measure a shredding of the Constitution, yet the mainstream media largely continue to shill for the man and whatever four more years will likely bring.