World Bank warns U.S. to cut deficits

News & Politics

Since the Bush administration hasn't been interested in listening to any dissenting opinions on the federal deficit, the World Bank has now stepped up to the mic and issued a warning: The incredibly high U.S. deficit, financed in large part by a few Asian countries' dollar reserves, is in danger of sparking a foreign exchange crisis which would decimate not just the U.S. economy but the entire world market. The last line of the article is especially heartening. (Yahoo News, via Marc)

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by