US faces one of biggest budget crunches in world – IMF

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US faces one of biggest budget crunches in world – IMF

By Edmund Conway
May 14th, 2010, www.telegraph.co.uk
Earlier this week, the Bank of England Governor, Mervyn King, irked US authorities by pointing out that even the world’s economic superpower has a major fiscal problem -“even the United States, the world’s largest economy, has a very large fiscal deficit” were his words. They were rather vague, but by happy coincidence [...]

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