What the President proposed in his budget is a series of detailed changes to our resources and our commitments that would reduce our deficits from 10 percent of GDP to around 3 percent of GDP, which is primary balance.
Geithner outlines the President's budget proposal aimed at reducing deficits.
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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.
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.
Executive compensation played a material role in causing the financial crisis because it encouraged excessive risk taking.
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.
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