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United States Secretary of the Treasury
Investing in economy and 'generating employment' are US priorities, Geithner

United States Secretary of the Treasury Tim Geithner said that the budget deficit in the country is "too high," but said that the main priority at the time is to invest in the economy and generate employment.

During an interview with a US television programme, Geithner said that "the increase in unemployment levels has worsened far more than what we had expected. The economy has, however, grown rapidly and strongly in ways that we had not expected."

Unemployment rates have reached 9.8 percent, which is the highest that unemployment rates have been in the last 26 years, according to data released in September, 2009.

"Unemployment rates will probably increase a bit more before they begin to fall," said Geithner.

In addition, the leader of the Republican minority from the House of Representatives, John Boehner, complained about the stimulus plan launched by President Barack Obama's administration.

"Businessmen are afraid to invest, because they are unsure about what will happen," he said.

Geithner, on the other hand, said that the economy was growing but that the crisis was not yet over.

He said that the government was using all of its resources, and said that the promises made during Obama's campaign included not increasing economic pressure for those families whose annual income was less than 250,000 dollars annually.

 



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