Economy

xchrom

(108,903 posts)

48. IMF's Lagarde Says US Budget Cuts Were 'Absolutely Inappropriate'

Sun Jul 7, 2013, 08:46 AM

Jul 2013

http://www.businessinsider.com/imfs-lagarde-says-us-budget-cuts-were-absolutely-inappropriate-2013-7

AIX-EN-PROVENCE, France (Reuters) - The U.S. federal budget cuts are an inappropriate measure that will weigh on potential growth, IMF chief Christine Lagarde said on Sunday, urging Washington to present "credible" fiscal plans.

Washington enacted across-the-board federal government spending cuts, known as sequestration, in March because Congress could not agree on an alternative.

It has meant everything from furloughs for air traffic controllers to fewer planes for the U.S. Navy to smaller subsidies for farmers.

"The budgetary procedure that is in place in the United States, which leads to a budgetary adjustment, seems to us absolutely inappropriate ... because it blindly affects certain expenditures that are essential to support medium and long term growth," Lagarde told an economists' conference in Aix-en-Provence, southern France.

Read more: http://www.businessinsider.com/imfs-lagarde-says-us-budget-cuts-were-absolutely-inappropriate-2013-7#ixzz2YMaf1ui4

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

61 replies

= new reply since forum marked as read

Highlight:

Weekend Economists Host a Lion July 5-7, 2013 [View all] Demeter Jul 2013 OP

A funny thing happened on the way to this thread Demeter Jul 2013 #1

Amen. kickysnana Jul 2013 #2

So far the only compelling argument I've heard that in fact comprehensive public surveillance is true Hugin Jul 2013 #20

If he were the only one, I'd agree, Hugin Demeter Jul 2013 #22

Talk about Serendipity! Here's an Explanation: BIG DATA Demeter Jul 2013 #25

It's not the Government, tho. Hugin Jul 2013 #36

Taxpayer money is STILL paying for it. Demeter Jul 2013 #38

Taxpayer money where someone somewhere is making a 20% guaranteed profit for doing nothing. Hugin Jul 2013 #47

What Did These Idiots Think Would Happen If We Hired Contractors To Handle Spying? Demeter Jul 2013 #27

TRANSCRIPT: NSA GOES RECRUITING Demeter Jul 2013 #28

Other than people who read forums, who pays attention to what is going on anyway? DemReadingDU Jul 2013 #35

Privacy? Hah! hamerfan Jul 2013 #39

I've never heard of Ixquick DemReadingDU Jul 2013 #40

ObamaCare�s Relentless Creation of Second-Class Citizens Demeter Jul 2013 #3

And how we were villified. Tansy_Gold Jul 2013 #18

Given past performance is no guarantee of future returns. westerebus Jul 2013 #19

Hey, we already have Platinum, Silver, and Bronze people ... bread_and_roses Jul 2013 #23

The future of Big Chicken Demeter Jul 2013 #4

Snowden fallout comes at bad time for private equity Demeter Jul 2013 #5

How Many High Wealth Individuals? by Timothy Taylor Demeter Jul 2013 #6

A �sitting man� at Goldman Sachs Nathan Schneider Demeter Jul 2013 #7

MANDELA'S Childhood: 1918�1936 Demeter Jul 2013 #8

Vatican cleric arrested in corruption case JUNE 28 Demeter Jul 2013 #9

Chart of the day, Fed-tightening edition By Felix Salmon Demeter Jul 2013 #10

There are no bank failures as of 7:30 PM EDT Demeter Jul 2013 #11

What to Do with the Hypertrophied Financial Sector? Brad DeLong Demeter Jul 2013 #12

No, manufacturing jobs won�t revive the economy By Livia Gershon Demeter Jul 2013 #13

Jobs Report: �New Normal� Is Neither New, Normal nor Acceptable bread_and_roses Jul 2013 #21

But but but ...we have a front page pic crowing about jobs! bread_and_roses Jul 2013 #24

Mandela IN Clarkebury, Healdtown and Fort Hare: 1936�1940 Demeter Jul 2013 #14

Crisis Chronicles: 300 Years of Financial Crises (1620�1920) James Narron and David Skeie Demeter Jul 2013 #15

Deflation By Any Other Name Would Smell As Foul AUTOMATIC EARTH Demeter Jul 2013 #16

I'm going out to see some fireworks Demeter Jul 2013 #17

WHY DID MORSI NOT ACCEPT A COMPROMISE?- Yusuf al-Misry Demeter Jul 2013 #26

Market Celebrates Egypt�s Coup, But It�s Not Over Yet Demeter Jul 2013 #29

Reagan and Thatcher opposed Mandela's release bread_and_roses Jul 2013 #30

Eurozone faces 'lost decade' unless action taken on banks Demeter Jul 2013 #31

I must do some work outside before it gets too awful...carry on! Demeter Jul 2013 #32

Mandela - Political ideology bread_and_roses Jul 2013 #33

ECB lifts suspension on Cyprus debt eligibility xchrom Jul 2013 #34

Musical Interlude hamerfan Jul 2013 #37

Ex-official: CIA Helped Jail Mandela By Joseph Albright and Marcia Kunstel, Cox News Service. Demeter Jul 2013 #41

Car shopping is stressful. Another excuse to drink. Fuddnik Jul 2013 #42

I think you have had enough!!! AnneD Jul 2013 #43

Egypt Says No Premier Picked as Salafis Reject ElBaradei xchrom Jul 2013 #44

Poor El Baradei, always a bridesmaid, never a bride Demeter Jul 2013 #49

IMF May Cut Global Growth Forecast as Emerging Markets Slow xchrom Jul 2013 #45

Is it dead yet? Demeter Jul 2013 #50

IRAN OFFERS SPECIAL EXCHANGE RATE TO LURE COMMERCE xchrom Jul 2013 #46

Allah hu Akbar! Demeter Jul 2013 #51

! xchrom Jul 2013 #55

It's survival, not profit, I think Demeter Jul 2013 #56

IMF's Lagarde Says US Budget Cuts Were 'Absolutely Inappropriate' xchrom Jul 2013 #48

The more she says it, the more the idiots will insist on it continuing Demeter Jul 2013 #52

Presidents are just figureheads nowdays DemReadingDU Jul 2013 #53

Imagine Bush with a vocabulary. Fuddnik Jul 2013 #59

In Secret, Court Vastly Broadens Powers of N.S.A. By ERIC LICHTBLAU Demeter Jul 2013 #54

Fellow Weekenders--I cannot continue today Demeter Jul 2013 #58

What's it going to take to get most Americans in the streets like in Egypt, or Turkey, or Brazil DemReadingDU Jul 2013 #60

You've done yeo(wo)man's work already - rest up bread_and_roses Jul 2013 #61

Made in Bangladesh: Greed, Globalization and the Dhaka Tragedy xchrom Jul 2013 #57