Tags: US | Geithner | Economy

Geithner: Economy Growing Faster Than Expected

Monday, 19 Apr 2010 08:29 AM

Treasury Secretary Timothy Geithner says the economy is growing faster than the Obama administration expected.

He told NBC's "Meet the Press" that the country is on the way to sustained job creation. But he acknowledges that unemployment may remain high, close to 10 percent.

Geithner says there's more confidence in the business world, and he says the private sector is growing. He also says people are spending more.

He said he sees encouraging signs that should make Americans confident the country will emerge stronger.

He also says President Barack Obama is taking steps to reduce the nation's red ink.

Geithner said that the president will extend middle-class tax cuts, but will not renew tax cuts that President George W. Bush put in place for the wealthiest Americans. The treasury secretary says that will provide about a trillion dollars in deficit reduction over the next 10 years.

He also says Obama has proposed a number of other measures to help close tax loopholes, such as overhauling the tax treatment of international companies and imposing fees on banks to cover bailout costs.

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Treasury Secretary Timothy Geithner says the economy is growing faster than the Obama administration expected.He told NBC's Meet the Press that the country is on the way to sustained job creation. But he acknowledges that unemployment may remain high, close to 10...
US,Geithner,Economy
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2010-29-19
 

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