“You’ve got to think about the costs of the alternatives,” Geithner said when asked about Harvard economist Martin Feldstein’s calculation that each job created by President Obama’s American Jobs Act would cost taxpayers about $200,000.
“If government does nothing, it does nothing now because they’re scared by politics or they want to debate what’s perfect, then there will be fewer Americans back to work, the economy will be weaker,” he said.
“We can borrow money for 10 years as the government of the United States because people have confidence in this country at less than 2 percent,” he said. “The responsible path now is to take advantage of the unique position we’re in as a country. People have a lot of confidence in us. Let’s take advantage of that now to do things that help growth in the short-term.”