Tim Geithner: “Crises do not burn themselves out. Crises this severe do not burn themselves out.”

If Congress does not act on these tax provisions or on the investments and infrastructure things, then what happens to the American economy? What happens is that every American who has a job will see their taxes go up by $1,000 on average…

we have suggested that the burden for the revenues that would have to come on the individual side should fall on the most fortunate 2 percent of Americans through an increase in the effective tax rate on those individuals.

The world still views the United States and the American political system as up to the challenge of delivering reforms that make our economy stronger and our fiscal position more sustainable.

I do not believe there is a credible argument to make that uncertainty about our fiscal deficits or uncertainty about the design of regulation in Washington today is having a material adverse effect on the American economy today.