Geithner says failure to raise debt ceiling ‘deeply irresponsible,’ would cost ‘millions’ of jobs | The Daily Caller - Breaking News, Opinion, Research, and Entertainment

Geithner says failure to raise debt ceiling ‘deeply irresponsible,’ would cost ‘millions’ of jobs | The Daily Caller - Breaking News, Opinion, Research, and Entertainment: "Treasury Secretary Tim Geithner sent a cage-rattling letter to congressional leaders Thursday, warning that a failure to raise the debt limit could plunge the nation into an economic crisis more severe than 2008’s and cost millions of jobs.

“Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses and could lead to the loss of millions of American jobs,” Geithner said.

“Even a very short-term or limited default would have catastrophic economic consequences that would last for decades. Failure to increase the limit would be deeply irresponsible,” he wrote."

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