Timothy Geithner: New taxes may be needed
Politico ^ | August 2, 2009 | Politico Staff
Posted on Sunday, August 02, 2009 10:47:44 AM by Cheap_Hessian
Treasury Secretary Timothy Geithner said in an interview aired Sunday that the administration will do "what's necessary" to revive the economy, and didn't rule out new taxes as a means to do so.
“We’re going to have to look at – we’re going to have to do what’s necessary,” Geithner told ABC’s George Stephanopoulos, host of “This Week.”
“Remember the critical thing is people understand that when we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically. We have to bring them down to a level where the amount we’re borrowing from the world is stable at a reasonable level. And that’s going to require some very hard choices. And we’re going to have to do that in a way that does not add unfairly to the burdens that the average American already faces.”
Pressed on whether he was ruling out new revenues, Geithner said: “[W]e're not at the point yet where we're going to make a judgment about what it's going to take. … I think what the country needs to do is understand we're going to have to do what it takes, we're going to do what's necessary.”
(Excerpt) Read more at politico.com ...
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Thanks timmy!
