President Obama can’t be happy with Treasury secretary Tim Geithner’s response to Sen. Jeff Sessions here:
Geithner starts out by calling the interest on the debt an “excessively high” burden and admitting it’s “unsustainable.” But he doesn’t stop there: “with the president’s plan, even if Congress were to enact it, and even if Congress were to hold to it…we would still be left with a very high interest burden and unsustainable obligations over time.” He says this with an oddly gleeful smirk. And then he plunges right into outright abdication of responsibility, saying “we’ll see…whether people can find the political will here [in Congress] to go deeper.”
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