July 24th, 2011

Geithner: “Unthinkable” that U.S. would default

Congress must reach a deal now to raise the federal debt ceiling through 2012 because “you don’t want politics messing around with America’s faith and credit,” Treasury Secretary Tim Geithner told CNN on Sunday.

“The most important thing is that we remove this threat of default from the country for the next 18 months,” Geithner said in an interview with CNN’s “State of the Union” program. “You want to take this out of politics.

A full transcript of the interview from Sunday’s State of the Union with Candy Crowley may be found here.