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IMF Chief Says U.S. Must Raise Debt Ceiling, Warns Of Threat To World Economy

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DearAbby Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 05:47 PM
Original message
IMF Chief Says U.S. Must Raise Debt Ceiling, Warns Of Threat To World Economy
WASHINGTON -- The impact of a failure to raise the U.S. borrowing limit could extend beyond America's borders and damage the global economy, the chief of the International Monetary Fund said Tuesday.

In a speech at the Council on Foreign Relations in New York, Christine Lagarde urged U.S. political leaders to show the same "political courage" that European leaders demonstrated last week, when they agreed on several new measures to address that continent's debt crisis.

President Barack Obama and Republican lawmakers are at an impasse in negotiations to raise the nation's $14.3 trillion borrowing limit. The federal government is at risk of defaulting on its debt after Aug. 2 if an agreement isn't reached by then.

Credit rating agencies such as Standard & Poor's and Moody's have warned that they will downgrade the United States' top credit rating if an agreement isn't reached. Standard & Poor's has also said it may reduce the nation's credit rating if there aren't steep cuts to the U.S. budget deficit.


More: http://www.huffingtonpost.com/2011/07/26/christine-laga...
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villager Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 05:54 PM
Response to Original message
1. The Elites Seem to Be At War With Each Other
I wonder if this is entirelybad for the rest of us humans? :shrug:
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DearAbby Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 05:56 PM
Response to Reply #1
2. You can bank on it
:Snarf:
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villager Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:00 PM
Response to Reply #2
3. The internecine war? Or the fallout hitting everyone outside the ruling classes, too?
:shrug:
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:03 PM
Response to Original message
4. This WAS to be expected
none can afford this... at all.

Well except for the ignorant in the House.
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killbotfactory Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:09 PM
Response to Reply #4
7. They could be bluffing
There could be enough republicans in the house who aren't willing to sabotage the world economy for the chance of political gain in the near future.

But you never know.
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:38 PM
Response to Reply #7
9. Sad is last year I said they'd do this
the TEA fanatics, radicals, are that crazy and boeher has no control of them.. at all.

Not that Cantor would be any improvement... he is part of the problem... But the IMF going yoohoo boys... over here... we adults would like you to behave like adults, is NOT a good thing.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Tue Jul-26-11 07:05 PM
Response to Original message
5. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
FourScore Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:06 PM
Response to Original message
6. This is really really bad. n/t
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spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:09 PM
Response to Original message
8. give him boehners number
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-26-11 07:38 PM
Response to Reply #8
10. Her, but yes
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 12:41 AM
Response to Original message
11. Wow this is embarrassing.
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EFerrari Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-11 12:44 AM
Response to Original message
12. Does anybody have a list of countries that have told the IMF to go eff themselves?
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