US Treasury Secretary Says Debt Problem Must be Solved

Washington, Jul 24 (Prensa Latina) US Secretary of the Treasury Timothy Geithner considers it inconceivable that the US will not fulfil its financial duties, and acknowledged that his country´s economy has deteriotaed a lot.

The US economy has slowed down a lot in the first half of 2011 and the expansion should be higher in the second semester, admitted Geithner on Sunday in the State of the Union CNN television program, and said that the unemployment rate (9.2 percent) is unacceptably high.

Regarding the dilemma of increasing the debt ceiling of $14.3 billion USD, still unresolved, Geithner considered it most important that the Congress stop threatening a US payment moratorium for the next 18 months.

In this context, the president of the House of Representatives, John Boehner, said on Saturday that he plans to announce an agreement on the government debt on Sunday.

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2 responses to “US Treasury Secretary Says Debt Problem Must be Solved

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