Treasury Secretary Timothy Geithner boldly predicted that Congress will vote to raise the debt ceiling next month, warning that failure to do so would bring “catastrophic” consequences for the U.S. and global economies.
Geithner, appearing on ABC’s “This Week,” said that if House Republicans were to push the vote to the brink or fail to raise the limit, it would “make the last [financial] crisis look like a tame, modest crisis.”
Geithner said that Republicans have told President Obama they “recognize we have to do this, and we’re not going to play around with it.”
Full story: Geithner: GOP leaders say they’ll vote to raise the debt ceiling