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April 04, 2011

An IMF working paper analyzed US finances and indicates of higher taxes or cuts in services that add up to 35% are needed

The working paper of the IMF finds that, under a baseline scenario, a full elimination of the US 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.

"An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?" (39 page IMF report)

How screwed are Americas finances ? - this is the a paper by IMF economists version.





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