Do you take economic growth projections by the IMF seriously? If you do then it would help to know that the global financier will slash the growth outlook for the US as well as for the whole world should there be an automatic spending cut in the former. In other words, if the US Government loses its right to keep spending more than what it earns, the US economic growth will be in danger of slowing down. And this slowdown in growth will also have repercussions on global growth as per the IMF. Consequently, it will have to take its growth projections lower.

We wonder what kind of economists are these who care only about the growth and not the quality of it. Clearly, the extra growth in the US that the IMF is talking about is due to more money spending by the Government and this was not sustainable in the first place. Thus, it should be happy that the deficit is being controlled which would pave the way for a healthier and sustainable growth in the long term. But alas, the IMF sorely misses the point. And sends out a misguided warning