Wednesday, August 4, 2010

Geithner's Wednesday

On Wednesday afternoon,  Treasury Secretary Geithner will speak before a group co-hosted by the Center for American Progress and the American Action Forum.

According to Treasury:
 Secretary Geithner will discuss the need to restore America to a pro-growth tax and fiscal policy. Secretary Geithner will remind the audience that over the past two decades, Washington ran an experiment in tax and fiscal policy. In the 1990’s, the government put an end to budget deficits, job creation was robust, and America enjoyed a period of economic growth where prosperity was widely shared. Over the next decade, Washington tried a new path, running up huge amounts of debt, while incomes for most Americans stagnated and job creation was anemic. Today, we are still wrestling with the damage from that period. Secretary Geithner will argue that we must restore America to a pro-growth tax and fiscal policy, where the middle class once again has the chance to grow and prosper and where we stop passing off bills to the next generation.

Following his remarks, the Secretary will engage in conversation with John Podesta, President and CEO of Center for American Progress, Douglas Holtz-Eakin, President of the American Action Forum, and a bipartisan audience.

The only "pro growth tax plan" is lower taxes, since this as a stand alone would cause the deficit to soar, huge cuts in government spending would be required. Will Geithner come anywhere close to making proposals along these lines? It's extremely doubtful. But I'm back in D.C, and I will be there to find out first hand.

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