Sunday, February 26, 2012

Warning on US Deficit at G20 from IIF's Dallara!

Attention was not all upon the EU and the Euro in Mexico City this Sunday it would seem. The report, linked here, sounds some other ominous warnings:

The non-partisan US Congressional Budget Office estimates that President Barack Obama will finish his first mandate with four consecutive fiscal years showing a deficit above $1 trillion.
Earlier this month an administration official said Obama's budget for the current fiscal year projects a $1.3 trillion deficit, slightly higher than the $1.296 trillion in 2011.
According to estimates from the International Monetary Fund, the US national debt surpassed the country's Gross Domestic Product in 2011 and should rise to more than 107% of GDP this year.



Post a Comment

<< Home