Leaders of the G20 nations at their summit in Los Cabos, Mexico.
G20 Warns US Over Deficit Amid Fears It Is The Next Crisis To Hit -- The Telegraph
America has been given a rare warning from G20 countries not to botch its own deficit-cutting measures amid fears that the world's biggest economy could fall off a "fiscal cliff" next year.
The warning came at the end of a fraught two-day summit in Mexico dominated by Europe's debt crisis. While the world's most powerful economies urged European governments to do more to end their crisis, the rebuke to The White House reflects increasing concern that America's struggle with its own $15trillion of debt will be the next to hit the world economy.
Efforts by President Barack Obama and Congress to agree on a grand plan to cut the country's deficit have so far failed.
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My Comment: Warn as much as they want .... but in an election year the last thing that an incumbent President and a Congress wants to hear is .... you cannot spend the money that you want to spend.
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