In the beginning the interviewer asks ‘Where are we going to be a year from now?’ [ regarding the deficit]
What very much pleases me is that Geithner says the deficit is too high now; but he doesn’t seem to be very much willing to say this has be done by raising taxes.
But he’s first going to restore growth and create jobs. Creating jobs seems to be easy; restoring the GDP might be achieved in the same way.
According to the website www.shadowstats.com the GDP annual growth has been overestimated for years now:
This doesn't mean that I think they should start raising taxes right away and restoring the deficit; government intervention isn't bad in times the economy is collapsing and a further fall in consumption would be killing.
However, I hope the administration doesn't forget to look at the real figures instead of the figures they publish to keep everyone happy...
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