Post by marcus on Jul 8, 2010 15:04:18 GMT -5
WASHINGTON (AP) -- The International Monetary Fund is calling for the United States to make a stronger effort to curb its budget deficits.
The IMF says that in addition to cutting government spending, the Obama administration will have to consider raising taxes to get the U.S. deficit down to a manageable level.
The IMF suggests a range of tax increases which would be certain to generate huge political opposition from reducing the popular tax deduction for home mortgages to instituting a national sales tax.
The suggestions were contained in the IMF's annual appraisal of the U.S. economy.
The IMF says that in addition to cutting government spending, the Obama administration will have to consider raising taxes to get the U.S. deficit down to a manageable level.
The IMF suggests a range of tax increases which would be certain to generate huge political opposition from reducing the popular tax deduction for home mortgages to instituting a national sales tax.
The suggestions were contained in the IMF's annual appraisal of the U.S. economy.