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IMF chief warns against drastic US spending cuts

IMF Managing Director Christine Lagarde (C) is pictured at the lobby of the IMF headquarters in Washington, DC, on October 13, 2013As debate rages over the US budget and borrowing limit, International Monetary Fund Director Christine Lagarde Sunday warned US spending cuts must not be too drastic or they could threaten global economic recovery. In an interview on NBC Sunday talk show "Meet the Press," Lagarde said the United States must address its spending on social programs like Medicare and Social Security.