Tags: Geithner Economic Recovery Not Fast Enough

Geithner: Economic Recovery Isn't Happening Fast Enough

Monday, 13 Sep 2010 12:02 PM

Treasury Secretary Timothy Geithner said on Monday the U.S. economy was recovering but not fast enough and Washington needed to do more to boost growth and create jobs.

In a speech to the Congressional Hispanic Caucus Institute, Geithner urged support for a small business lending package the U.S. Senate is set to debate this week.

Geithner urged Congress to act quickly on extending expiring tax cuts for the middle class and on a proposal by President Barack Obama to provide new federal financing for rebuilding U.S. roads, bridges and other infrastructure.

"We are going to have to keep at it until we get Americans back to work, to extend economic growth and opportunity to all communities across the nation," Geithner said in his written text.

The speech was aimed at building support for Obama's efforts to boost the lackluster U.S. economy ahead of the November congressional elections.

The speech did not touch on U.S. concerns about China's currency policies. Geithner is scheduled to testify about China's exchange rate practices to the Senate Banking Committee on Thursday.

In his speech to the Hispanic group, Geithner said the small business legislation that Democrats hope will clear the Senate this week would provide "substantial financial benefits for small businesses and entrepreneurs."

The bill would create a new $30 billion fund the government would invest in independent community banks to encourage lending to small firms.

Republicans have made the sluggish economy their top issue going into the November elections where they hope to make considerable gains against majority Democrats in Congress.

© 2017 Thomson/Reuters. All rights reserved.

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Treasury Secretary Timothy Geithner said on Monday the U.S. economy was recovering but not fast enough and Washington needed to do more to boost growth and create jobs. In a speech to the Congressional Hispanic Caucus Institute, Geithner urged support for a small business...
Geithner Economic Recovery Not Fast Enough
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2010-02-13
 

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