IMF Says US Must Raise All Taxes, Cut All Entitlements By 35% To Contain Future Budget
In what is either a delayed April Fool's report, or its latest exercise in rhetoric the IMF asks the humorous question: "An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?" The obvious answer is naturally the Fed. The unobvious answer, according to the IMF, is the impossible: a slashing all of USSA's entitlement benefits by a whopping 35% combined with a hike in all tax rates. From the IMF: "This paper updates existing measures of the U.S. fiscal gap to include federal laws up to and including the mid-December 2010 federal fiscal stimulus. It then applies the methodology of generational accounting to establish how the burden of adjustment required to attain fiscal sustainability is shared across generations. We find that the U.S. fiscal and generational imbalances are large under plausible parametric assumptions, and, while not much affected by the financial crisis, they have not improved much by the passing of the Final Healthcare Legislation. We find that, under our baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent. A delay in the adjustment makes it more costly." Such drama: have these people really not heard of the Fed. What is rather shocking is that Larry Kotlikoff, who has made it all too clear the US is bankrupt, was used as a consultant: "We are extremely grateful to Lawrence Kotlikoff who acted as a consultant providing unique inspiration, guidance and supervision." Are massively dissenting voices now credible sources of information? What next: Fed white paper citing Zero Hedge?
read more here http://www.zerohedge.com/article/imf-says-us-must-raise-all-taxes-c...
read more here http://www.zerohedge.com/article/imf-says-us-must-raise-all-taxes-c...
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
A Prelude to WW III ? It Seems There We Are Trailblazing Idiocy into More Blood and Destruction!
They're rolling out the 25th Amendment trying to stop Joe Biden from insanely thrusting the US in a…See More
Chris Langan - The Interview THEY Didn't Want You To See - CTMU [Full Version; Timestamps]
DW Description: Chris Langan is known to have the highest IQ in the world, somewhere between 195 and 210. To give you an idea of what this means, the average...
RFK Jr. Appoinment Rocks the World of the Federal Health Agncies and The Big Pharma Profits!
The Appointment by Trump as Secretary of HHS has sent shockwaves through the federal government…See More
Somewhere in California.
Tom Waites and Iggy Pop meet in a midnight diner in Jim Jarmusch's 2003 film Coffee and Cigarettes.
Whatever Happened?
Whatever Happened? The unsung heroes will go about their dayRegardless of the welcome they've…See More
"cheeki kea Nice work! Thank you! "
"Chin up folks, once the low hanging fruit gets picked off a clearer view will reveal the higher…"
"Your right LP it's insane for sure and hopefully improbable, keeping an open mind. Checking…"
"The white dude in the center is Bill Gates!!! "
© 2024 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network