(EMAILWIRE.COM, March 03, 2009 ) Washington, DC - At 12:30 pm, Secretary Geithner will testify before the House Ways and Means Committee on the President’s Fiscal Year 2010 Budget. In his testimony, Secretary Geithner will make two critical points: first, unless we take the steps necessary to cut the federal budget deficit by at least half in four years, we will face higher interest rates as government borrowing crowds out private investment, leading to slower growth and lower living standards for Americans. Second, we will never be on a sustainable fiscal path unless we address the long term budget problem of escalating health care costs. Without a plan to reform and bring down costs throughout our entire health care system, budget deficits will start climbing again as the costs of Medicare and Medicaid increase with rising overall health system costs.

Secretary Geithner will then travel to New York City to accept the Citizens Budget Commission Medal for High Civic Service at the organization’s 77th Annual Awards Dinner this evening. The dinner is closed press.

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