February 18th, 2011 2:17 am
Even Tim Geithner Believes Obama’s Budget is “Unsustainable”
In response to questioning from Senator Jeff Sessions during a Budget Committee hearing yesterday, Treasury Secretary Timothy Geithner admitted President Obama’s proposed budget creates an “excessively high interest burden” that is “unsustainable.”
The president’s proposal would add $13 trillion in new gross debt and would increase interest payments on the national debt to $844 billion annually by 2021.
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