IMF warns: Trump tax bill could exacerbate US fiscal deficit and debt burden problems

The International Monetary Fund (IMF) warned that the upcoming Trump tax bill could complicate the task of reducing fiscal deficits and debt burdens in the coming years. IMF spokeswoman Julie Kozack said the United States needs to gradually reduce public borrowing to begin a significant reduction in the debt-to-GDP ratio, which is also an important measure of debt sustainability. "The bill appears to be contrary to the goal of reducing debt in the medium term," Kozack said. The IMF generally defines "medium term" as three to five years. According to the Congressional Budget Office, the bill will increase the deficit by $3.3 trillion. (Jinshi)