I believe, as does the President, that there is no plausible way for us to address the many economic challenges facing the country, including our unsustainable fiscal deficits, without asking those most fortunate few to pay a modestly higher percentage of their income and taxes.
Geithner emphasizes the need for wealthier Americans to contribute more to address fiscal challenges.
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It would be better for the country for Congress to provide some certainty about how we are going to address these long-term fiscal problems.
One of the most important things the Congress did is to say, 'We're going to establish a level playing field across banks and nonbanks.'
It's very important to future economic growth. There is no alternative to doing that.
The basic sense that you see across the country that the political institutions in this country are not up to the challenges we face, unable to act, unable to solve problems, is absolutely weighing on confidence.
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