Geithner Says Failure to Raise Debt Ceiling Unthinkably Damaging
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U.S. Treasury Secretary Timothy Geithner said today that Congress has “no option” other than approving an increase in the $14.3 trillion debt ceiling.
“It will be unthinkably damaging to the economy, much more damaging than even what we faced in that dark period of ’08 and ’09,” Geithner said in Chicago at the Clinton Global Initiative conference.