Sitting down with CNBC, Treasury Secretary Timothy Geithner explained how the Obama Administration saw a way to correct the nation's fiscal problems. He argued that "if you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to – the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security."
Is Geithner correct? Is it a privilege to be an American? And if so … what does that privilege cost?
Joining us now are Rogers Smith Professor of Political Science at the University of Pennsylvania and Diana Furchtgott-Roth, senior fellow at the Manhattan InstitutIs Mr. Geithner correct, is there a cost that comes with the privilege of being an American; and if so, what does that privilege cost? Rogers Smith is professor of Political Science at the University of Pennsylvania and Diana Furchtgott-Roth is senior fellow at the Manhattan Institute.
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