Talk Radio News Service: News, Politics, Media

By Antonia Aguilar University of New Mexico/ Talk Radio News

According to Treasury Secretary Timothy Geithner, the budget for fiscal year 2011 requested by President Barack Obama will help stabilize the country's financial situation.

“The President’s budget proposes a series of actions that would begin to put us back to a responsible, sustainable fiscal path,” said Geithner Thursday during an appearance before the Senate Budget Committee.

In his testimony, Geithner detailed the Administrations plans to create more jobs, which includes tax cuts and credits for businesses that hire new employees, $30 billion from TARP funds to give capital to small banks and $5 billion towards investments in clean energy factories.

Geithner also outlined strategies to help stabilize the nation's economy such as a three year freeze on all non-security discretionary funds which is projected to reduce deficits by $250 billion in ten years. The budget will also invest in more law enforcement to investigate international tax evasion.

“This is a question of will, not ability,” said Geithner. “The American people want to see us do this together-to work to solve the problems that we all face and to get the economy back on track.”