Tim Geithner: U.S. Must Learn to Live Within its Means

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Tim Geithner: U.S. Must Learn to Live Within its Means

The United States must live within its means once its economy recovers if it is to preserve global confidence in the U.S. dollar’s status, Treasury Secretary Timothy Geithner (pictured left) said on Friday. The comments came as the Obama administration reported a record U.S. budget deficit for the fiscal year ended September of $1.4 trillion. At 10 percent of gross domestic product, it was the biggest U.S. fiscal shortfall since World War Two.

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