Oh, boy, here we go. I'm sure this will mean higher taxes with little to no spending cuts. :mad:
WASHINGTON (AP) -- The International Monetary Fund is calling for the United States to make a stronger effort to curb its budget deficits.
The IMF said Thursday 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 proposed a range of possible 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.