All Weekend, Every Weekend. On C-SPAN3.

Sec. Geithner Remarks on U.S. Economic Recovery

Washington, DC
Wednesday, April 18, 2012

Treasury Secretary Tim Geithner discussed a number of challenges facing the U.S. economy in a discussion at the Brookings Institution. He said that the recovery is gradually moving along, but added that  America faces a big governing test before the new year with respect to the debt limit, Bush tax cuts and the sequester.  Mr. Geithner’s remarks comes ahead of this week’s IMF, World Bank and G20 finance ministers spring meetings.   

According to the IMF Economic Outlook report, the global economy is slowly improving, expanding by 3.5% this year, with the U.S. economy expected to grow at about 2%. While the European Union will likely see its economy shrink due to the ongoing debt crisis, the decline is now estimated at 0.3%, less than previously predicted.

In its companion Fiscal Monitor report, the IMF cautioned that drastic deficit reduction measures could set the global recovery back.

Sec. Geithner made similar remarks in a series of recent public appearances.  He defended the Obama administration's fiscal policy which, he claims has strengthened the U.S. economy. Speaking at the Economic Club in Chicago, the Treasury Secretary pointed to growth in business investment for equipment and software while acknowledging that unemployment remains too high.

Echoing the IMF, Sec. Geithner also cautioned lawmakers against rushing into extreme deficit reductions that could trigger another, deeper recession.

Updated: Wednesday, April 18, 2012 at 2:19pm (ET)

Related Events

Sec. Geithner Addresses Economic Club of New York
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.

American Artifacts: Maryland & the War of 1812
Sunday, May 18, 2014     

A visit to the Maryland Historical Society in Baltimore to see its War of 1812 collection, including Francis Scott Key's original manuscript of “The Star-Spangled Banner."

IMF Recommends Economic Changes in China
Friday, September 6, 2013     

A recent International Monetary Fund report recommends that China make significant changes to its economic system in order to maintain its current pace of growth. Markus Rodlauer, the IMF's China mission chief, discusses the report with a panel of China experts at this Brookings Institution event.

Senate Budget Cmte. to Mark Up Budget for Fiscal Year 2014
Wednesday, March 13, 2013     

Senate Budget Chairwoman Patty Murray (D-WA) released her 2014 budget resolution for mark up Wednesday. It included significant tax increases on top of the $620 billion tax hike from the fiscal cliff deal.

Senate Banking Committee Press CFPB & SEC Nominees
Tuesday, March 12, 2013     

President Obama's financial regulator nominees went before the Senate Banking Committee Tuesday for consideration to lead the Bureau of Consumer Financial Protection (CFPB) and the the Securities and Exchange Commission (SEC).

Cato Institute Hosts a Discussion on European Economy
Monday, March 11, 2013     

Former Czech President Václav Klaus addressed the Cato Institute on the structural problems in the European system, and how they contribute to the economic crisis that is continuing to affect that continent.

Transportation Department Officials Address APTA Conference
Monday, March 11, 2013     

High ranking Transportation Department officials joined the American Public Transportation Association's annual legislative conference.  The day-long event addressed the need for funding and policies that support U.S. public transportation and rail systems.

A Look at Healthcare Implementation
Friday, March 8, 2013     

The National Press Club holds a news conference to discuss how the new healthcare laws are taking shape in the states during a Newsmakers' event titled "Obamacare on the Ground."

Committee Holds Hearing On Government Waste
Tuesday, March 5, 2013     

Rep. Darrel Issa (R-CA) chaired a House Oversight Committee hearing on spending practices in the Departments of Education and Transportation.

Economists Address NABE Policy Conference
Monday, March 4, 2013     

The National Association for Business Economics holds its annual policy conference, featuring speakers from business, the government and the Federal Reserve.

Share This Event Via Social Media

Photo Gallery

C-SPAN Gifts (late 2012)