Geithner says confident U.S. will meet debt obligations

Reuters News
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Posted: Jul 24, 2011 7:58 AM
Geithner says confident U.S. will meet debt obligations

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said Sunday it was unthinkable for the United States not to meet its debt obligations and he is confident a debt deal will get done.

Speaking on CNN's "State of the Union" program, Geithner said the most important thing that Congress must do is remove the threat of a U.S. debt default for the next 18 months.

Geithner said President Barack Obama was communicating with all congressional leaders throughout the day Saturday as lawmakers and the White House tried to find a way to lift the $14.3 trillion limit on U.S. borrowing.

The treasury secretary also said that the U.S. economy slowed "a lot" in the first half of 2011 and that growth should be better in the second half. He said the jobless rate was unacceptably high.