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Geithner on Challenge of Curbing US Deficit

1,445 views · Published 3 February 2011 · 3:46 · Indexed 20 October 2026

Channel: FORA.tv · 2011 · News & Politics

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Complete video at: http://fora.tv/2011/01/28/Timothy_Geithner_in_Conversation_with_Charlie_Rose

U.S. Treasury Secretary Tim Geithner admits that the United States fiscal position is "unsustainable" and is going to require a "substantial set of changes" to mend. Geithner contends that while the President's mapping of decade-long budget policies is a step in the right direction, there is presently no mechanism to commit Congress to that plan over the next decade.

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The world's largest economies need to collaborate in order to face the challenges of the new reality, said US Treasury Secretary Timothy Geithner, speaking at a plenary session. The effort is needed to transform the post-war economic deal. With a view to the pivotal relationship between the US and China, Secretary Geithner described the interests on both sides as closely tied in many ways.

"They are not fundamentally in conflict, they are largely complementary. We want to make sure they are comfortable that we are going to be able to build a system that's going to accommodate their interests too, not just ours," Secretary Geithner said, dismissing doubts about the US long-term economy. "The great strength of the American political system is that it has always risen to the challenge," Secretary Geithner added. - Davos World Economic Forum 2011

Timothy Franz Geithner is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.

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