Peter Barnes: Is there a risk that the United States could lose its Triple A credit rating? Yes or No? Treasury Secretary Tim Geithner: “No risk of that. No risk.”
Geithner added …
“If you listen carefully now, you see the leadership of the United States of America, the President, the Republican leadership in both houses and the Democrats recognizing now this is the right thing to do for the economy … that we have to put in place now reforms that bring down our long term deficits because it will help strengthen future growth …”
Peter Barnes: So Standard & Poor’s is wrong … the United States will keep its Triple-A credit rating.
Geithner:
“Absolutely. People who look at the United States … It’s understandable, Peter, people who run businesses across the country, investors around the world … they look at Washington …”
“Washington is a hard place to read. And it’s hard for people to look past the political rhetoric and try to understand whether the leadership of Washington is going to take the tough steps necessary to get ahead of this problem …”
“If you listen carefully now, I think the prospects for a bipartisan agreement are better than they’ve been in a long period of time. Of course, we have to turn that into action.”
Timothy Geithner has told President Obama that he will stay on the job as Treasury secretary, ending speculation he would leave the administration.
See also …
Peter Barnes