For now, Paulson said the US economy is “the bright spot in the world” with “the wind at our backs”. Geithner said: “We’re at the commanding heights of the frontier of innovation in most areas that really matter.”
The two US Treasury secretaries who navigated the nation through the Global Financial Crisis said the next administration will inherit a vibrant economy with “dark” challenges. They called on politicians to address the fiscal deficit and safeguard market competition.
“The president’s also going to inherit some dark shadows — it’s a very dangerous, much more complicated world to navigate,” Timothy Geithner said July 30 on Bloomberg Television’s Wall Street Week with David Westin. His predecessor at the Treasury’s helm, Henry Paulson, said that government debt is a “dark cloud” that, “if not checked, is ultimately going to destroy our prosperity.”
