Treasury Secretary Timothy Geithner is right to say that the country is living beyond its means, but it's a curious statement coming from an official in an administration that has done nothing to curb profligate spending. In tomorrow's appearance on Meet the Press, Geithner offers this:
“[G]iven that we've been living beyond our means as a country -- Americans had been borrowing too much, and you had a huge growth in risk taking and leverage in the financial system -- what you would expect is a more moderate paced recovery than as typ-- and that's what we're seeing. But again, you are seeing a recovery. You're seeing private investment expand again, job growth starting to come back. And that's very encouraging. … I talked to businesses across the country, and I would say that is the general view: an economy that's gradually getting better.”
Job growth is "starting to come back," he says, which is a bit optimistic. The full interview airs tomorrow morning, so tune in and have a sip of your bloody mary every time he gives credit to the president for fixing the economy by spending.
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