From Ibtimes.com
U.S. Treasury Secretary Timothy Geithner said Thursday that the Obama administration and Congress will be working together to reduce the nation’s deficits once the recovery is underway.
“The President has made clear that he will not seek any major revenue increases until 2011 when the recovery should be firmly in place,” Geithner said in prepared opening remarks to lawmakers today during a hearing with the House Committee on Appropriations.
“He has, however, been equally clear that once recovery is underway, we must get our fiscal house in order or risk having government borrowing crowd out productive private investment,” he added. “Treasury and the White House will work with Congress to make the tax changes that are necessary to reduce deficits and to do so in a manner that is fair to all Americans.”
I guess they just decided to not count the massive spending bill earlier this year...or health care reform...or continued bank bailouts....
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