IMF lectures US on debt

The IMF praised US efforts to cut the long-term deficit through health system reform, but said more needed to be done now.

"The authorities' commitment to halve the budget deficit by 2013, and intention to stabilize public debt at just over 70 percent of GDP by 2015 are welcome, although much remains to be done to achieve these aims."

At a recent summit of the Group of 20 leading economies in Toronto, Obama vowed to halve the deficit within three years.

But the IMF projected that the deficit will stand at 64 percent of gross domestic product this year, rising to just over 96 percent by 2020.
--http://news.yahoo.com/s/afp/20100708/pl_afp/useconomyimf

If even the IMF thinks there is a problem, maybe someone will wake up. And they don't believe Obama when he claims to halve the deficit within three years.