Tim Geithner: “I think it's inevitable that the Congress and the administration come together and reform, comprehensively, the U.S. tax…”

You cannot govern a country if you commit never to raise taxes on anybody, because things change, wars happen, crises happen.

It's critically important. I'll give you an example of how to--if the Congress extends those tax cuts that go to 2 percent of the most fortunate Americans in the country, we have to go borrow $1 trillion over 10 years.

The administration and Congress have a responsibility to look forward, reconsider the role government has played in the past.

It would raise, dramatically, the borrowing cost, permanently, for all Americans.