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.
Tim Geithner argues that current fiscal uncertainty is not adversely affecting the economy.
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When Timothy Geithner says today that he's willing to go over the cliff, he's saying it because, yes, it's posturing. But he's also saying it because he means it.
If those were embraced by the Congress tomorrow, there would be substantially more confidence around the world in the capacity of this political system in Washington.
You cannot govern a country if you commit never to raise taxes on anybody, because things change, wars happen, crises happen.
I think it's inevitable that the Congress and the administration come together and reform, comprehensively, the U.S. tax code.
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