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Sec. Geithner Addresses Economic Club of New York

New York, NY
Friday, March 16, 2012

Treasury Secretary Timothy Geithner made his first address at the Economic Club of New York on Thursday.  He discussed the U.S. financial system and the nation's economic security.

In recent testimony to Congress, Sec. Geithner admitted that the 2013 budget proposal for his agency does not address long-term budget deficits caused primarily by health care costs.  The Secretary also expanded on his recent comments calling for Congress to keep working together following an agreement on extending the payroll tax cut and unemployment insurance. 

In February, Sec. Geithner said President Obama's $3.8 trillion budget proposal will "reduce deficits significantly over time and put the nation back on a sustainable budget path."  The proposal includes vehicles for raising revenues, one of which is a tax hike on the top two percent of wage earners.

Updated: Friday, March 16, 2012 at 7:24am (ET)

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