US Treasury Secretary Timothy Geithner is at it again – having gotten into financial crisis management mode ever since he tool office, he is setting it up for the US Debt limit to be increased.
The $787 billion package is still in the system pipelines before it could induce some of its desired effects towards economic recovery. The “Cash-for-Clunkers” bonanza to the ailing automobile industry cost an iitial $1 billion and now additional doses are being ramped up to boost auto fortunes.
Clearly, the Obama Administration is not going to stop shot of an all out effort at getting the economy back on track. Further fiscal or monetary stimuli would need hefty borrowings – and Geithner is busy doing the math and pitching his case for Congress approval.
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