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Geithner's Opening Statement on FY 2013 Budget

Wednesday, 15 Feb 2012 | 10:00 AM ET

U.S. Treasury Secretary, Timothy Geithner delivers his opening comments to a House hearing committee on the President's 2013 budget proposal. "I know there are members of Congress who are critical of these proposals, and would prefer a different strategy, and you should judge our plan, as I know you will, against those alternatives. Some of you have suggested that we should cut deeper and faster, with more severe austerity now, but that approach, in our judgement, would damage economic growth; would reverse the gains that we've achieved in getting more Americans back to work; and would push more Americans into poverty. You cannot cut your way to economic growth."