Today's Coming Crisis Movie

Tuesday, July 26, 2011

Desperate Obama asks public to email congressmen over debt crisis - but deluge crashes their websites - 26th July 2011

The U.S. has been given an ultimatum by the International Monetary Fund that politicians simply must find a solution to the country's debt crisis for the sake of the global economy.

Pressing for tax increases and spending cuts in health care, the IMF says America risks a sudden interest rate rise and humiliating drop in its top-notch credit rating if the deadlock is not broken.

The warning came as the two most important men in the battle to save the U.S. from a first-ever debt default traded blows and the public pleaded with Congress to sort out the country's economic mess.

Websites of several congressmen crashed after President Obama asked the public to write to their leaders and insist on a compromise to the debt crisis talks with Speaker John Boehner and others.

Meanwhile the IMF said an ‘excessively large upfront fiscal adjustment’ - overly savage spending cuts - should be avoided, because this would further dampen domestic demand and slow growth. Read More