IMF calls on U.S. to roll back spending cuts

06/17/2013 | Reuters

The International Monetary Fund cut its 2014 growth outlook for the U.S. to 2.7%, down from 3% in April, after reversing its assumption that the government would repeal spending cuts enacted in March. "The deficit reduction in 2013 has been excessively rapid and ill-designed," the IMF said. "These cuts should be replaced with a back-loaded mix of entitlement savings and new revenues."

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