Thursday, January 22, 2009

What About The Deficit? What senators should be asking Timothy Geithner.

From Forbes:

But Geithner's biggest challenge as Treasury secretary went largely unexamined. How will he ever get the U.S. back on track to a balanced and sustainable budget?

The senators seemed less concerned with the long-term fiscal deficit that Geithner faces, poised to balloon as the $700 billion Troubled Assets Relief Program is joined with a $825 billion stimulus plan now dubbed the American Recovery and Reinvestment Program (ARRP). The Congressional Budget Office (CBO) estimates the deficit will be $1.2 trillion for the 2009 fiscal year alone. The overall U.S. debt is currently $10.6 trillion.

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