| |||||||||||||||
|
Sunday, Nov 1, 2009 @01:13pm CST (Washington, DC) -- The nation's treasury secretary says the economic recovery is under way, but predicts it will be a "choppy" process. Tim Geithner told NBC's "Meet the Press" the Obama administration purposely designed a stimulus program that would unroll over two years because, quote, "we knew it was going to take a long time to repair the damage we started with earlier this year." He acknowledged unemployment is still high, but noted jobs have been created and saved by the economic stimulus program. While he said there's no need for an additional jump-start for the U.S. economy, Geithner noted there are moves underway to extend unemployment benefits and a popular tax credit for first-time homebuyers. The official described the economic stimulus program as a way to "provide a bridge until the economy can repair itself and businesses are strong enough to start to invest again." Geithner pegged deficit reduction to a recovery, but called healthcare reform "very encouraging" in terms of potential trimming of the nation's deficit. (Copyright 2009 by VERTEXNews/Newsroom Solutions) |
|
|