Spend money now to aid: US fiscal position: Geithner

US Treasury Secretary Timothy Geithner said on Wednesday the United States must take the paradoxical step of spending more money now to improve its long-term fiscal position, including passing a substantial jobs package. Geithner told a forum sponsored by the CNBC television network he considers himself a fiscal hawk, but crises require extraordinary spending to limit economic damage that will hurt long-term revenues.
"The stuff you have to do to make long term fiscal deficits more healthy requires spending money now. There's no alternative," Geithner said. He added that if Congress passes jobs legislation that is less powerful than President Barack Obama's $447 billion plan, US economic growth will be weaker.