(BBC) Davos 2011: Timothy Geithner resists pressure for drastic cuts

Posted by Kendall Harmon

US Treasury Secretary Timothy Geithner has told Davos delegates rapid, drastic spending cuts are "not the responsible way" to cut national budget deficits.

He also said the US was more confident now there was a sustainable expansion, but said it was not a boom.

Mr Geithner said "education, innovation, and investment" were the way forward for the US economy.

Read it all.

Filed under: * Culture-WatchGlobalization* Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--The U.S. GovernmentTreasury Secretary Timothy Geithner

Posted January 29, 2011 at 10:12 am [Printer Friendly] [Print w/ comments]

1. Archer_of_the_Forest wrote:

Ironically, those “drastic cuts” would, in fact, be educational, innovative, and a good investment in the future.

January 29, 3:24 pm | [comment link]
2. Br. Michael wrote:

Mr Geithner said “education, innovation, and investment” were the way forward for the US economy.

Meaning we need to spend our way out of overspending.

January 29, 3:37 pm | [comment link]
3. lostdesert wrote:

Has Tim paid his taxes yet?  Why do these people make mistakes in preparing their tax returns which results in them paying less taxes, never more taxes?  Hmmm.

January 29, 6:48 pm | [comment link]
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