Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Geithner says US must cut the deficit
Source: Agencies |
August 3, 2009, Monday
|
Print Edition
Print Edition
UNITED States Treasury Secretary Timothy Geithner says the US must cut the annual federal budget deficit, now more than US$1 trillion, for the economy to have a sustained recovery and he is not ruling out new taxes.
He said the country needs to understand that the Obama administration will do what's necessary. He did not detail how the government plans to shrink the deficit, but he said health care reform and lowering costs are essential.
"When we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically," he said on ABC TV's "This Week" yesterday. "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."
Geithner also said private economists generally expect to see growth later this year and unemployment to ease in the second half of next year.
Any recovery must rely on business investment and hiring, according to Geithner. He also said the administration will stick with its economic efforts until a strong private sector-led recovery is in place.
Geithner said the White House wants a health care bill that has broad support in Congress. But he said the decision of whether "to help shape this and be part of it" is up to lawmakers.
"Or do they want this country ... to go another several decades without doing what every other serious country has done. Which is to give their citizens access to basic quality of care."
Geithner also denied Republican claims that the government is taking too much control over Wall Street.
He said the country needs to understand that the Obama administration will do what's necessary. He did not detail how the government plans to shrink the deficit, but he said health care reform and lowering costs are essential.
"When we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically," he said on ABC TV's "This Week" yesterday. "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."
Geithner also said private economists generally expect to see growth later this year and unemployment to ease in the second half of next year.
Any recovery must rely on business investment and hiring, according to Geithner. He also said the administration will stick with its economic efforts until a strong private sector-led recovery is in place.
Geithner said the White House wants a health care bill that has broad support in Congress. But he said the decision of whether "to help shape this and be part of it" is up to lawmakers.
"Or do they want this country ... to go another several decades without doing what every other serious country has done. Which is to give their citizens access to basic quality of care."
Geithner also denied Republican claims that the government is taking too much control over Wall Street.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
