WASHINGTON (AP) - Treasury Secretary Timothy Geithner says a smaller federal deficit is vital to sustaining an economic recovery. But Geithner isn't saying how exactly the Obama administration plans to achieve that.
He said in an interview that it will take hard choices to lower the deficit "very dramatically." He said overhauling the health care system and lowering costs are keys to getting the deficit under control.
Geithner was asked in the interview whether he would rule out new taxes. He said the country needs to understand the administration will do "what's necessary."