Confessions of a Laid-off Lawyer

Just Your Average Joe Blogging Away His Debt—In One Year or Less

Archive for July 9th, 2010

Lifestyle Changes

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Total Black: $106.99
Total Red: $252,067.04

News alert: the International Monetary Fund wants Americans to change our lifestyles.  In an article in the Wall Street Journal, “IMF Urges U.S. to Consider Higher Taxes, Social Security Cuts,” journalist Tom Barkley reported that the IMF encouraged the U.S. to take strong steps to cure our budget deficits.  “Spending cuts aren’t sufficient, the IMF said, and it suggested a number of politically difficult ways of reducing debt, including eliminating the popular deduction for interest on mortgages, raising energy taxes, reducing Social Security benefits or imposing a national consumption tax.”  C-SPAN reported on its Open Phones program this morning that the IMF’s annual review was a call for lifestyle changes within the US.  So . . . spin or straight-talk?  Keep reading . . .