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Geithner, Summers: Tax Increases to Pay for Deficit, Health Care
Published in Saudi Press Agency on 03 - 08 - 2009

Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers on Sunday said that middle-class taxes might have to increase to address budget deficits or to pay for the proposed health care overhaul.
Geithner and Summers' comments came as there was news that the recession is likely to end soon. Both officials dodged questions about U.S. President Barack Obama on his intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to reduce the federal deficit: Summers said Obama's proposed health care overhaul needs funding from somewhere.
“If we want an economy that's going to grow in the future, people have to understand we have to bring those deficits down. And it's going to be difficult, hard for us to do. And the path to that is through health care reform. We're not at the point yet where we're going to make a judgment about what it's going to take,” Geithner said.


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