Geithner in Hearing Says U.S. Economy Is Regaining Strength

[NB2D]

U.S. Treasury Secretary Timothy F. Geithner said today that the nation’s economy is “regaining strength” and that the recovery “will depend in part on events beyond our shores.”

“While the economy is regaining strength, we still face significant economic challenges,” Geithner said today in the prepared text of remarks to a House Appropriations subcommittee. “Unemployment is still far too high, the housing market remains weak, and the overall effects of the financial crisis remain an obstacle to growth.”

Geithner said the U.S. recovery depends in part on events in Europe. He also urged lawmakers to support the Obama administration’s budget request for Treasury and initiatives on housing, student loans and taxes.

“There’s lots that separate us,” Geithner said to lawmakers, including “how fast we cut deficits, where we cut spending, where we make sure we’re investing in more things that matter for future growth, how we protect the safety net, how to make Medicare, Medicaid more sustainable, how do we define tax reform in a way that’s fair.” He called those differences “fundamental,” yet not “unbridgeable.”

Geithner also said Treasury would soon present a plan to reform Fannie Mae and Freddie Mac. The government-sponsored enterprises have been under conservatorship since 2008. Treasury has already provided three options for reform.

Distressed Homeowners

“We are hoping to be in a position relatively soon to engage with Congress more substantively to narrow those range of choices,” Geithner said.

Geithner highlighted the administration’s programs to modify mortgages and assist distressed homeowners. He urged Congress to go further.

“As the president has made clear, more can be done to help, and we urge Congress to consider the president’s plan to help homeowners refinance their mortgages to take advantage of lower rates,” Geithner said.

President Barack Obama has proposed a plan to help “responsible” borrowers secure low-interest loans insured by the Federal Housing Administration even if they owe more than their house is worth.

Geithner also said the U.S. won’t hit its debt limit again until late in the year and warned against Congress repeating the threat of default.

“We cannot put the country through what we put the country through last July and August with the threat of default for the first time in our nation’s history hanging over the United States for a long period of time,” Geithner said. “That did more damage to consumer confidence, business confidence, than almost what was caused by the crisis.”

Geithner said he remains concerned about China allowing its currency to appreciate. He said they have “some ways to go” and he’d like to see them go further.

http://www.businessweek.com/news/2012-03-28/geithner-says-u-dot-s-dot-economy-is-regaining-strength

I wonder what other country they are referring to.....

[tooter39]

Obimbo will try anything to get re-elective...what a joke...

[SocalDinar]

What is Timothy talking about in regards to China aprpreciating its currency?

China has hurt the US manipulating its currency for years.

The yuan has actually strengthened as the deficit has widened.

Obama has already passed on two opportunities mark China a "currency manipulator", out of fear of sparking a trade war.

will depend in part on events beyond our shores.

MAYBE?????????????

GO SHABS

[yota691]

I will just keep my comments to myself, this should be put in the Rumor Mill Category!!

Edited March 29, 2012 by yota691

[uncirculd]

China's has been manipulating it's currency to keep an edge on it's economy. We have lost value in the dollar and one thing they said right (not in this article) that the dollar has lost enough value. That is not the only problem with our economy.

It is their spending. Their over spending. Earmarks, campaign promises, and lobbyist. Our debt limit will be reached in September. What zero hedge says will mark yet another down grade.

http://www.zerohedge.com/news/us-debt-ceiling-d-day-september-14-2012

Obama care was over the top. Adding to the deficit, and ridiculously. It remains to be seen how the Supreme Court will rule on the act of forcing citizens to buy health care. Think about this, some kids do not want to go to college, and some kids barely made high school. So if their 1st job happens to be $8 an hour, how in the world would they afford health care or a penalty. Where were the minds of these politicians. I can tell you it was all about campaign promises. Our system is not set up for socialism. We did have funding for Social Security threw our taxes. What happened to that? They stole the money from the SS fund to pay for their other earmarks or campaign promises. They had no right to touch it. When they started doing what they wanted and the time we figured it out was tooooooooooo late. Now it will take decades to take back the government who forgot they work for us.

Geithner is a clown and never tells the truth. He has stolen trillions of treasury money transferred to offshore accounts for who is yet to be seen. So we sit with a deficit and debt that cannot be paid.

They only hopes in getting out of this mess is to indict all of them and get the money back. Good luck. This is where the WGS come in. They have been trying for years. Decades! So how long do you think it will take us to get it back?? They settlements in my opinion will never be paid. They have taken it and stolen it and moved it numerous times in order to hide their big plan. Which is to bring down the US and allow a single world government to take over. With every new election we go further into debt. Whether it be threw wars or splurging. I am so done with what we call our government. They have taken over our country. All of them. Dems and Reps. None are innocent. And as soon as someone like Ron Paul comes in and says this is wrong, and it needs to change and go back to the constitution, he becomes a radical. Same for us. If we want to fight to get rid of the excessive offices and staff in government then we become either radicals or terrorist. Simply because we are not being their sheeple.

[Moses]

If Paul takes something, anything from Peter without his expressed consent he is rightly considered to be a thief, and is accordingly shunned and punished for his deed.

However, if Paul can convince Tom, **** and Harry to assist him in shaming or coercing Peter to surrender seemingly small amounts to a less fortunate Paul, then Peter can be told that he did the “right” thing, and will be rewarded with kudos and applause.

But Wait, Sitting on the couch, playing video games and eating Cheetos does not earn a living for Paul!

So, Tom, **** and Harry once again rise to the occasion and come back after Peter for another contribution, and a standing commitment. Only now, Tom, **** and Harry need to be compensated for their benevolence, and they also need to be compensated to monitor Peter to ensure he follows through with his commitment.

Now, sitting on the couch, playing video games and eating Cheetos has left health and esteem issues for Paul, so Tom, **** and Harry have no choice but to bring in Sally, and Suzy to assist Paul with his issues of self worth.

This is all very trying for Tom, ****, Harry, Sally and Suzy so the decide that they need a vehicle and expenses paid for so that they can continue to assist Paul.

But now the gang is in need of organization and benefits. And because they are each invaluable to the process of milking Peter they bicker among themselves as to who should be compensated what.

Because Tom works the most hours he feels he should be in charge and highly compensated, but **** and Harry have special skills that they feel should be rewarded. Harry and Sally have different color hair and eyes, so they feel they are not being treated with the respect the others have. And poor Suzy is shorter then the rest so she feels she is slighted and therefore should be compensated.

Recognizing that an agreement can not be reached without compromising their support for Paul, the group agrees to hire the compensation firm of Dewey, Cheatem and Howe.

It is now decided that a Union will be employed to administer and control all further negotiations among the group so that the group does not have to sit face to face and communicate, and therefore not have their feeling hurt.

It is finally decided that the group will all get company vehicles, paid for health care with gold plated benefits, 45 days vacation per year, sick days, mental health days, child care, maternity and paternity leave.

Further it is decided that those with blue eyes will surrender a portion of their compensation, which will be determined in further meetings, to the members of the Paul support team with green eyes. While the members with brown eyes will get two and a half times of that of those with eyes the color of the previous majority as recognized in yet pending negotiations to be held at a resort in a warm place as yet to be determined.

Finally as one member of the groups is short with green eyes that member demands that any and all future members of the Paul support team must be forced to accommodated that member with advanced promotions so as to not slight the member and cause hurt feelings or give the impression of inferiority.

Peter who just wanted to work and raise his family, finally Shrugs.

[fuzzy77]

Well, if Gientner says it than it MUST be true...suddenly I feel so relieved, I think I feel so much confidence now I will vote for Obama !!!!!