The IMF says economic woes in places like Cyprus will tamp down global growth.
Credit Patrick Baz / AFP/Getty Images
The International Monetary Fund has lowered its projections for global economic growth, including in the United States, citing sharp cuts in government spending and the struggling eurozone.
The Washington, D.C.-based international lender's World Economic Outlook shaved its 2013 forecast to 3.3 percent from 3.5 percent. It also trimmed its projection for 2014 to 4 percent from 4.1 percent.
The liberal watchdog group Center for Media and Democracy says Fix the Debt — a key unit in philanthropist Pete Peterson's corps of organizations to battle the national debt — is a pro-business effort masquerading as a grassroots movement.
In a conference call with reporters Friday, CMD director Lisa Graves called Fix the Debt "an Astroturf supergroup that is exceedingly well funded." The term "Astroturf" refers to groups that appear to be citizen-organized but actually have their roots at consultants' offices inside the Capital Beltway.
Pre-school is one example of how President Obama says the government can play a constructive role in the U.S. economy. In his State of the Union speech, President Obama tried to refocus a debate that, for two years, has been all about cutting. The president is highlighting government programs that even many Republicans support.
Here's NPR's Scott Horsley.
SCOTT HORSLEY, BYLINE: The U.S. economy is slowly recovering from the Great Recession, but President Obama says the government could be doing more to help.
Thomas Lamb's "Adolph the Pig." The message scribbled on top reads "Save for Victory and Make Him Squeal."
Credit Courtesy of the Museum of World War II, Boston. On display at the WWII & NYC exhibit, New-York Historical Society.
Wars are expensive, and governments have always borrowed money to fight them. But it wasn't until the 20th century — the age of advertising — that governments started using war as a marketing tool to encourage citizens to buy government bonds.
To raise money for World War I, the U.S. government issued "Liberty Bonds," and launched an ad campaign full of dramatic, frightening posters.
For World War II, the government ditched the "liberty" euphemism and got straight to the point. It issued "war bonds," which were accompanied by a massive promotional campaign.