Tim Geithner Talks Deficits, Debt, And The S&P On CNBC

us treasury, timothy geithner

Treasury Secretary Tim Geithner is on CNBC responding to S&P’s surprise downgrade of the US debt outlook.

Follow along here.

First question is a softball: Do you agree with S&P’s negative assessment of the debt?

GEITHNER: Duh, no. It’s better, because everyone agrees that something must be done.

We disagree on how to do that. And we’re not going to resolve all those disagreements.

Question: What does the government say to people around the world?

GEITHNER: This is in our capacity to do.

Question: How does the US compare other AAA countries?

GEITHNER: Our growth is better, and our entitlement obligations aren’t that bad.

Question: What about the debt ceiling?

GEITHNER: What’s realistic is locking in in some goals.

Question: What about Medicare?

GEITHNER: Yes, we have to address that, but there’s a disagreement about how to do that.

And it’s over. He didn’t say much.

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