NEWSMAX: Treasury Secretary Timothy Geithner says whether America falls victim to another recession depends on how Europe deals with its financial crisis and how Congress acts to strengthen the moribund economy. Geithner also told CNN’s Erin Burnett Tuesday that President Barack Obama’s embattled jobs plan can get Americans back to work.
Burnett asked Geithner whether industry leaders gathered by CNN — labeled the “Strike Team” — who say a recession is not necessarily in the nation’s future are correct in their prediction.
“I think they’re right but it depends really on two things: It depends first on how effective the Europeans are in dealing with their financial crisis, because that’s putting a severe burden on growth around the world, and it’s a very serious grave crisis,” Geithner said. “And so it depends importantly on what they do in Europe, but it also depends on our ability to get Congress to do something to make growth strong in the United States… (more)
