WASHINGTON - Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit. Geithner says in a letter to congressional leaders that the move will free up $156 billion in borrowing authority while Congress debates increasing the... more »
WASHINGTON - Treasury Secretary Timothy Geithner is telling congressional leaders that the U.S. government will exhaust its borrowing limit as soon as mid-February, earlier than expected. The government reached its $16.4 trillion borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it. In a letter... more »
WASHINGTON- Treasury Secretary Timothy Geithner says the current business tax system is bad for business and for job creation and says a plan by President Barack Obama to reduce corporate tax rates would make the tax system more globally competitive. The Obama administration is proposing to lower the corporate tax... more »
WASHINGTON - Timothy Geithner has told President Barack Obama that he will remain on the job as Treasury secretary. The Treasury Department released a statement Sunday saying Geithner had informed the president of his decision to remain in the administration. Geithner is the only remaining top official on Obama's original... more »
As the program winds down, Treasury Secretary Timothy Geithner says taxpayers are recovering their investments from financial bailouts.
Geithner says the banks have already repaid 75 percent of the money they have already received.
The government's investments have brought taxpayers twenty one billion dollars. more »