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(EMAILWIRE.COM, March 12, 2009 ) Washington, DC - On Thursday morning, Secretary Geithner will attend the PresidentÂ’s Economic Daily Briefing at the White House. The meeting is closed press.
At 10 a.m., Secretary Geithner will testify before the Senate Budget Committee on the PresidentÂ’s Fiscal Year 2010 Budget Proposal. As he did in testimony last week before three Congressional committees, Secretary Geithner will continue to emphasize two critical points: first, unless we take the steps necessary to cut the federal budget deficit by at least half in four years, we will face higher interest rates as government borrowing crowds out private investment, leading to slower growth and lower living standards for Americans. Second, we will never be on a sustainable fiscal path unless we address the long term budget problem of escalating health care costs. Without a plan to reform and bring down costs throughout our entire health care system, budget deficits will start climbing again as the costs of Medicare and Medicaid increase with rising overall health system costs.
On Thursday afternoon, Secretary Geithner will address the Business RoundtableÂ’s Quarterly Meeting, where he will outline the AdministrationÂ’s comprehensive plan to stabilize the financial system and get lending flowing again. The SecretaryÂ’s remarks are closed press.
Secretary Geithner will depart late Thursday for Horsham, UK, where he will attend the G-20 Finance Ministers and Central Bank Governors Meeting.
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U.S. Department of the Treasury
Treasury Public Affairs
(202) 622-2960 -
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