US Treasury Secretary Timothy Geithner has warned that the country's economy "is still going through an incredibly difficult period". He told a congressional hearing the downturn's impact would be lasting. Mr Geithner also revealed that the US government had recovered more than half the money it had spent on the Troubled Asset Relief Program (Tarp). He added that Tarp investments had generated $24bn (£16bn) in additional revenue for taxpayers. Mr Geithner said "millions of Americans are still looking for work and are suffering from the damage of a deep recession. The impact of this crisis will be lasting. But he told the Congressional Oversight Panel the US government's actions to boost the economy during the crisis had cost less than expected.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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