U.S. Can’t Continue As Engine That Drives the Global Economy, Obama and Geithner Say
Tuesday, June 29, 2010
By Fred Lucas, Staff Writer


Washington (CNSNews.com) –

Citing the country’s trade deficit, President Barack Obama and Treasury Secretary Timothy Geithner each asserted last week that the United States cannot continue to lead the world economy.

“We said in Pittsburgh [at] the G20 that it was important for us to rebalance, in part because the U.S. economy for a long period of time was the engine of world economic growth; we were sucking in imports from all across the world financed by huge amounts of consumer debt,â€