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.
Geithner highlights public frustration with political inaction affecting economic confidence.
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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.
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.
If Congress were to choose to try to defer everything... that would be very damaging to the interests of the country.
If the U.S. Government were at this time... to significantly reduce the assistance it provides students going to college, that would be a bad thing for the country.
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