Treasury Secretary Tim Geithner, speaking this morning on CNBC:
"That’s the kind of balance you need," said Geithner. "Why is that the case? Because 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."
At a breakfast meeting this morning with reporters, President Obama's top economic adviser Austan Goolsbee maintained that the president's budget proposal is "sustainable." Goolsbee was asked by THE WEEKLY STANDARD about Treasury secretary Timothy Geithner's testimony last week to the Senate Budget Committee that the budget plan was "unsustainable." He said he assumed Geithner was referring to the current year's budget deficits, which Goolsbee said "cannot be sustained forever, nor would you want them to be."