Geithner Doesn’t Answer Whether McConnell Laughed At President’s Proposal


GEORGE STEPHANOPOULOS: Thank you for joining us again, Mr. Secretary. It sure sounds like the meetings on Capitol Hill this week did not go very well. Senator Mitch McConnell told The Weekly Standard that he burst into laughter when he heard your proposal, and we just heard Speaker of the House John Boehner say, ‘Let"s not kid ourselves, there's a stalemate.' So is there a stalemate, and did Mitch McConnell really laugh out loud when he heard your proposal?

TIM GEITHNER: I think we're going to get there. I mean, just inevitably there's going to be a little bit of political theater. Sometimes that's a sign of progress. I think we're making some progress, but we're still some distance apart. What's at stake here is very important. We're trying not just to prevent a tax increase on 98% of Americans, and there's no reason we can't do that. We're trying to go beyond that's going to be good for the long term American economy and I think we have a chance to do that.