DAVOS, Switzerland (Reuters) - There is a growing recognition that the United States’ fiscal position is unsustainable and increasing political will to put it back on track, Treasury Secretary Timothy Geithner said on Friday.
“There is a much greater recognition across the U.S. political system that our fiscal position is unsustainable in the long-run. It’s going to require substantial effort to bring that under control,” Geithner told a panel at the World Economic Forum in Davos.
“Political will is not fully manifest at the moment but it’s coming, there’s no alternative to it. We can’t grow our way out of it,” he said.
Reporting by Paul Taylor, writing by Mike Peacock