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    IMF urges US lawmakers to raise $14.3B debt limit

    WASHINGTON (AP) — The International Monetary Fund is urging U.S. lawmakers to raise the nation's borrowing limit. It warns that inaction could lead to a spike in interest rates that would harm the U.S. economy and world financial markets.

    The debt limit is the amount the government can borrow to help finance its operations. The United States reached its $14.3 trillion borrowing limit in May. It is at risk of defaulting on its debt if it doesn't raise that limit by Aug. 2. President Barack Obama and Republican lawmakers have been at odds on a plan to raise it.

    The IMF also warns in its annual report on the U.S. economy that rising budget deficits pose a risk. But it advocates a long-term strategy for reducing them, not immediate cuts or tax increases.

     

    109 comments

    • Broncotodd  •  11 mths ago
      Nice proof reading on the headline....it's trillion with a T
      • rick c 11 mths ago
        Good catch. Yahoo doesn't write the news...they just aggregate it from other news sources for free and pretend they are some investigative news source. If newspapers would start charging for their content and put up pay walls, Yahoo would be out of the news business in a hurry.
    • WebDesigner  •  11 mths ago
      Republicans have drawn the line in the sand as far as I'm concerned and they'll will be the party held accountable on this one.
      • Truth 11 mths ago
        They are the party of responsibility. The dems are still blaming Reagan!!

        I am all for them being considered being responsible for saving this country!
      • cpocraig 11 mths ago
        Truth? you wouldn't know truth if you say it. It was the GOP and GW Bush that put us here with tax cuts for the rich. We had a SURPLUS when Clinton left office.
      • Barry puff daddy 11 mths ago
        Hey Cpocraig get your facts right douche bag,in 2000, Clinton claimed a $230B surplus, but Clinton borrowed
        $152.3B from Social Security
        $30.9B from Civil Service Retirement Fund
        $18.5B from Federal Supplementary Medical insurance Trust Fund
        $15.0B from Federal Hospital Insurance Trust Fund
        $9.0B from the Federal Unemployment Trust Fund
        $8.2B from Military Retirement Fund
        $3.8B from Transportation Trust Funds
        $1.8B from Employee Life Insurance & Retirement fund
        $7.0B from others
    • Glen Goin  •  11 mths ago
      IMF should be dismantled.
    • David W  •  11 mths ago
      Until they finally correct it, the title says it all: "IMF urges US lawmakers to raise $14.3B debt limit"

      "B" does not stand for trillion. AP, you really have to read your articles before you post (or at least the headline, seriously).
    • A Yahoo! User  •  11 mths ago
      Screw the IMF. Let the government default, it will mean tighter borrowing and smaller government in the long run, the kind of reform America needs to control and reduce our bloated, tax happy government.
      • Grandpa 11 mths ago
        It might help lead to less involvement in foreign wars.
      • tooyoungtobesmartasyou 11 mths ago
        You're kidding right? We have countless financial entities worldwide warning us of the potential problems and you want to play chicken? Not the time. Default would bring about more problems than it would solve, both short and long term.
      • WebDesigner 11 mths ago
        It will also mean that a loaf of bread will cost you $5.00 and gas will cost you $8.00 a gallon. I don't think that would be prudent for this country at this juncture.
    • David W  •  11 mths ago
      Only in politics would they consider digging yourself deeper into a hole as raising the ceiling.
    • Daniel  •  11 mths ago
      Who the hell is the IMF to tell us we need to raise our debt limit.
    • OmelasNation  •  11 mths ago
      Funny, I thought they would recommend we reduce our liability s we don't have to raise our debt..., Something about living within your means...., I guess that only applies to taxpayers..,
    • George C  •  11 mths ago
      imf - $#$# - Just say no!!!!!!!!!!!!!!!!!
    • Steve  •  11 mths ago
      Cool... Now Europe is telling us to increase our debt...

      Nice to know who our over-lords are....
    • Crusher  •  11 mths ago
      Excellent idea not to follow.
    • CIA ran 9-11  •  11 mths ago
      LOL of COURSE the international bankers want us to raise our debt limit so they can put us deeper in debt and under their globalist control.
    • CS  •  11 mths ago
      lets think about this agency telling the USA what to do--they "lend" money to countries with troubled finances---would your bank or credit union or credit card help you out more if your finances were "troubled" OR would they make you get your act together first? Hmmm ??
    • doc  •  11 mths ago
      It must be time for another IMF payoff. It's pretty interesting the IMF was near bankruptcy 3 years ago and now Europe is in flames. I think it's time for an audit of the IMF.
    • rattle_the_cages  •  11 mths ago
      Where is the money that is taken out of my paycheck for SS?
      • Rusty Shackleford 11 mths ago
        the politicians use it to buy 3 ply pure cotton toilet paper to wipe themselves.
      • BrianD 11 mths ago
        They spent it...
      • idiot 11 mths ago
        Spent with a big fat IOU attached to it thanks to Democrats
    • Tom  •  11 mths ago
      Does Soros need another loan this soon? Will he dump Obama and get another
      telepromter mouthpiece to run for President if he doesn't get it?
    • Forrest  •  11 mths ago
      DO NOT RAISE THE DEBT LIMIT UNTIL THE IDIOTS IN THE ADMINISTRATION AGREE ON DEEP SPENDING CUTS!!!!!!
    • TOMCAT  •  11 mths ago
      Hello IMF, it's Trillion not Billion, thank you.
    • Mister Guitar  •  11 mths ago
      Well this is what happens when you let the extremes run things. Chaos. Can we get our moderates back? PLease?
    • Dave  •  11 mths ago
      We need to get some responsible leaders in this country before we get so far in debt we can never get out. We are almost there.
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