US Treasury Secretary Timothy Geithner told ABC’s “This Week” that it was very unlikely that the US economy could slip back into recession. Geithner also suggested that allowing tax cuts for wealthy American to expire, is necessary to show commitment to cutting budget deficits.
“We think that’s the responsible thing to do because we need to make sure we can show the world that (we’re) willing as a country now to start to make some progress bringing down our long-term deficits.”
Source: Reuters
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