The International Monetary Fund warned the United States that government spending and increasing national debt are not sustainable and could hurt the global economy.
The Washington, D.C.-based group that represents 190 member countries also called the U.S. economy “overheated.” The debt warning follows several other high-profile calls to address growing U.S. debt.
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President Joe Biden is blaming corporations for high prices and “shrinkflation.” Business executives and many economists disagree, arguing the real problem is inflation created by federal deficit spending policies.
Ahead of the Super Bowl, Biden posted a video on X saying, “While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same? Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend. I’m calling on the big consumer brands to put a stop to it.”
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