Just as clueless as his boss.
Via Beltway Confidential:
President Obama’s Treasury Secretary argued this morning that spending cuts and entitlement reform would hurt the economy more than tax increases on “the top 2 percent” of Americans.
“These revenue increases are focused on the top 2 percent of American taxpayers, not the remaining 98 percent,” Treasury Secretary Tim Geithner told the Senate Finance Committee today. “The increases in revenue we propose — which are roughly one percent, I say one percent of GDP — if structured as we propose, we believe would not have a material adverse impact on economic growth, particularly if compared to a comparable reduction in, for example, Medicare benefits or spending on infrastructure.”