Posted on July 25, 2012

Geithner: "Economy Is Not Growing Fast Enough; Unemployment Is Very High"

"I'll tell you my general view on this," Secretary of Treasury Tim Geithner said about the economy in his testimony to Congress. "The economy is not growing fast enough. Unemployment is very high. There's a huge amount of damage left in the housing market. Americans are living with the scars of this crisis."



"The institutions with authority should be doing everything they can to try to make economic growth stronger," Geithner said. "That is an obligation we all share. Congress under the Constitution has the authority for the most powerful tools we have available to help economic growth. We'd like Congress to use those tools now in this context. And again we will keep supporting anything practical, sensible, that will make growth stronger, help get more people back to work, help make credit more available to more people not just to buy a home or to refinance a mortgage, but to make sure businesses can expand to meet growing demand for their products."