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CONFIDENT Geithner: Default ‘Unthinkable’ William B. Plowman / AP Photo

Geithner: Default ‘Unthinkable’

Tim Geithner, for one, is not worried about the U.S. going into default. "It's unthinkable we would not meet our obligations on time," he told CNN on Sunday. "It's not going to happen." The Treasury secretary said that congressional leaders are working hard on a plan, one version of which would set up a special committee to reform the U.S. budget in the coming months. “They need to have a framework,” Geithner said, “and that should happen today.” Geithner declined to answer if Obama had a back-up plan.

July 24, 2011 11:01 AM