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Default ‘Off the Table,’ Debt Deal Will Be Struck: Geithner

Posted By admin On July 18, 2011 @ 7:52 am In Featured Stories,Tile | Comments Disabled

CNBC.com [1]
July 18, 2011

Treasury Secretary Tim Geithner told CNBC Monday that he is certain that congressional leaders will strike a deal to raise the federal debt ceiling prior to the Aug. 2 deadline to avoid default.

“Each side has said definitively that default is not an option,” he said, “They’re not going to play around with this.”

“If the United States of America were to default it would be catastrophic for the American economy, for the American financial system, for the average American people, it would be a substantial unfair tax on all Americans and it would bring the world economy … to the edge of recession again,” he said. “There’s no alternative for Congress raising the debt limit and that’s why you’re seeing Republicans as well recognize that reality and take default off the table.”

He added that while it’s encouraging that congressional leaders are moving toward a debt agreement before the deadline, “of course it’s not enough.”

Full article here [1]

Default Off the Table, Debt Deal Will Be Struck: Geithner 150709banner2 [2]

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URLs in this post:

[1] CNBC.com: http://www.cnbc.com/id/43792737

[2] Image: http://www.prisonplanet.tv/

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Rep. Ron Paul: House Republicans would be “foolish” to accept debt limit deal: http://www.prisonplanet.com/rep-ron-paul-house-republicans-would-be-%e2%80%9cfoolish%e2%80%9d-to-accept-debt-limit-deal.html

[5] Will the U.S. Default On Its Debt … Even If It Raises the Debt Ceiling?: http://www.prisonplanet.com/will-the-u-s-default-on-its-debt-even-if-it-raises-the-debt-ceiling.html

[6] Geithner Predicts Double-Dip if Congress Fails to Lift Debt Ceiling: http://www.prisonplanet.com/geithner-predicts-double-dip-if-congress-fails-to-lift-debt-ceiling.html

[7] Deal Framework Reached on Raising U.S. Debt Ceiling: http://www.prisonplanet.com/deal-framework-reached-on-raising-u-s-debt-ceiling.html

[8] Be Honest – The European Debt Deal Was Really A Greek Debt Default: http://www.prisonplanet.com/be-honest-%e2%80%93-the-european-debt-deal-was-really-a-greek-debt-default.html

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