DENVER, Jan 8 (Reuters) - The IMF'S first deputy managing director, John Lipsky, warned on Saturday that the United States must start down a budget deficit-cutting path relatively soon or face crushing debt service costs as interest rates rise.
'Time's a-wasting. It is critical to lay out the basis for credible medium-term fiscal adjustment,' he said at the annual American Economics Association conference.
(Reporting by Mark Felsenthal; Editing by Leslie Adler) Keywords: ECONOMY IMF/USA (mark.felsenthal@thomsonreuters.com; +1 202 898 8329; Reuters Messaging: mark.felsenthal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Time's a-wasting. It is critical to lay out the basis for credible medium-term fiscal adjustment,' he said at the annual American Economics Association conference.
(Reporting by Mark Felsenthal; Editing by Leslie Adler) Keywords: ECONOMY IMF/USA (mark.felsenthal@thomsonreuters.com; +1 202 898 8329; Reuters Messaging: mark.felsenthal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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