WASHINGTON Oct 25 U.S. growth will pick up and
unemployment will decline if Congress acts on a package of
proposals from Obama administration to create jobs, Treasury
Secretary Timothy Geithner said on Tuesday.
In an interview with "CBS Evening News with Scott Pelley",
Geithner suggested Republicans' refusal to back administration
proposals was contributing to the difficulty in spurring
"Without Republicans willing to move on tax cuts for the
average American, tax cuts for businesses, infrastructure
investments to rebuild America, then the economy will be
weaker," Geithner said. "That's a basic reality."
Asked whether national unemployment would be below 9
percent by the time November 2012 elections roll around,
Geithner declined to specify but said there could be more jobs
"If...they act on these proposals, then growth will be
stronger and unemployment will be lower, and you'll see more
Americans back to work," he said." If they don't act then we
risk a weaker economy and higher unemployment."
The Obama administration proposed a $447 billion package of
tax reductions and spending initiatives earlier this month, but
it was blocked in the Senate by Republicans. Democrats are now
trying to get parts of the plan passed bit by bit.
CBS released portions of its interview with Geithner ahead
of its full broadcast.