Tags: Geithner Economic Recovery Not Fast Enough

Geithner: Economic Recovery Isn't Happening Fast Enough

Monday, 13 September 2010 12:02 PM EDT

Treasury Secretary Timothy Geithner said on Monday the U.S. economy was recovering but not fast enough and Washington needed to do more to boost growth and create jobs.

In a speech to the Congressional Hispanic Caucus Institute, Geithner urged support for a small business lending package the U.S. Senate is set to debate this week.

Geithner urged Congress to act quickly on extending expiring tax cuts for the middle class and on a proposal by President Barack Obama to provide new federal financing for rebuilding U.S. roads, bridges and other infrastructure.

"We are going to have to keep at it until we get Americans back to work, to extend economic growth and opportunity to all communities across the nation," Geithner said in his written text.

The speech was aimed at building support for Obama's efforts to boost the lackluster U.S. economy ahead of the November congressional elections.

The speech did not touch on U.S. concerns about China's currency policies. Geithner is scheduled to testify about China's exchange rate practices to the Senate Banking Committee on Thursday.

In his speech to the Hispanic group, Geithner said the small business legislation that Democrats hope will clear the Senate this week would provide "substantial financial benefits for small businesses and entrepreneurs."

The bill would create a new $30 billion fund the government would invest in independent community banks to encourage lending to small firms.

Republicans have made the sluggish economy their top issue going into the November elections where they hope to make considerable gains against majority Democrats in Congress.

© 2024 Thomson/Reuters. All rights reserved.


Headline
Treasury Secretary Timothy Geithner said on Monday the U.S. economy was recovering but not fast enough and Washington needed to do more to boost growth and create jobs. In a speech to the Congressional Hispanic Caucus Institute, Geithner urged support for a small business...
Geithner Economic Recovery Not Fast Enough
257
2010-02-13
Monday, 13 September 2010 12:02 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved