Sessions: Geithner ‘Spinning’ on Fiscal Cliff

GOP Senator: Geithner plan 'has almost no impact on the $9 trillion in debt we're projected to incur over the next ten years'

BY:

Sen. Jeff Sessions (R., Ala.) responded on CNBC to Sec. Timothy Geithner’s previous interview today and his comments on Sunday regarding the fiscal cliff. Sessions expressed his dismay at Geithner distorting an issue that needs to be “confronted honestly and directly”:

JEFF SESSIONS: Well, (Geithner) is spinning a situation that’s so serious. We’ve got to confront honestly and directly. He said on the Sunday shows that they were fixing our debt problem, putting us on a sustainable course. That’s not correct. The plan that he has announced leaked out, as he has outlined it. It increases taxes $1.6 trillion and does not cut spending any. It increases spending $1 trillion. It has almost no impact on the $9 trillion in debt we’re projected to incur over the next ten years. So this is why we’ve got a problem.

Earlier, Geithner in his CNBC interview said that the administration is ‘absolutely’ prepared to go over the fiscal cliff if the GOP doesn’t cave on tax rates.