U.S. Treasury secretary Timothy Geithner, speaking at the World Economic Forum in Davos, Switzerland, echoed the president’s State of the Union speech, acknowledging the need for fiscal responsibility but warning against making deep cuts to government spending. Reuters reports:
Geithner said there was a growing recognition that the United States’ fiscal position is unsustainable and increasing political will to put it back on track.
“Political will is not fully manifest at the moment but it’s coming, there’s no alternative to it. We can’t grow our way out of it,” he said.
But he added the country should avoid cutting spending too deeply in order not to hurt the recovery.
“I know there are people who would like to make very deep cuts that would undermine the recovery,” he said.
“Political will is not fully manifest at the moment but it’s coming, there’s no alternative to it. We can’t grow our way out of it,” he said.
But he added the country should avoid cutting spending too deeply in order not to hurt the recovery.
“I know there are people who would like to make very deep cuts that would undermine the recovery,” he said.
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