Usually I would tend to agree with this more than not. However, what has contributed to the economic slowdown? Inflation is a huge driver with commodity prices and oil and gas shooting through the roof year over year.
President Obama's administration and the Democrats in Congress over the past few years are directly responsible for this. How? Weak dollar policy. All commodities and oil are purchased in dollars. A weaker dollar means more dollars needed to purchase, which drives up prices. People are spending more at the pump and stores and have less to spend in the economy.
Bad news all around. Geitner's answer is to raise taxes by $1 trillion to match with $2 trillion in spending cuts for debt ceiling hike. Simply unbelievable.