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Savage capitalism is back – and it won’t tame itself

Capitalists spread prosperity only when threatened by global rivalry, radical movements and the risk of uprisings at home Back in the 90s, I used to get into arguments with Russian friends about capitalism. This was a time when most young eastern European intellectuals were avidly embracing everything associated with that…

Congressional Budget Office forecasts economic growth and deficit reduction

The United States is expected to post solid economic growth of more than 3.0 percent through 2016, accompanied by a shrinking deficit, a government agency said Tuesday. The Congressional Budget Office, the nonpartisan analysis arm of Congress, said in its latest report that the federal government’s tax and spending policies…

IMF urges repeal of ‘ill-designed’ sweeping federal budget cuts

WASHINGTON (Reuters) – The International Monetary Fund on Friday urged the United States to repeal sweeping federal budget cuts that will be a severe drag on economic growth this year. In its annual check of the health of the U.S. economy, the IMF forecast economic growth would be a sluggish…

Romney says spending cuts will slow economic growth

Former Massachusetts Gov. Mitt Romney broke with Republican orthodoxy on Tuesday by claiming that budget cuts would shrink the economy, according to NBC News. “If you just cut, if all you’re thinking about doing is cutting spending, as you cut spending you’ll slow down the economy,” he said in Michigan.…

US growth revised upward to 3.1% for end 2010

WASHINGTON — The US economy grew much faster than first thought in the final months of 2010, according to the Commerce Department, which revised the figure upward to 3.1 percent on Friday. In its final estimate for the fourth quarter of 2010, US economic growth was stronger than the 2.8…

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