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IMF chief warns against drastic US spending cuts
As debate rages over the US budget and borrowing limit, International Monetary Fund Director Christine Lagarde warned US spending cuts must not be too drastic or they could threaten global economic recovery. In an interview on NBC’s “Meet the Press,” Lagarde said the United States must address its spending on social programs like Medicare and Social Security. However, “The point is not to contract the economy by slashing spending brutally now, as recovery is picking up...Read More
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