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Geithner disagrees with S&P on debt outlook

Geithner disagrees with S&P on debt outlook (by Greg Robb)

WASHINGTON (MarketWatch) - Treasury Secretary Timothy Geithner said he did not agree with Standard & Poor's decision to change its outlook on U.S. Treasury securities to "negative" from "stable." S&P cited political gridlock on deficit reduction as a key reason for the debt warning. Geithner said it is clear the prospects of a budget deal have improved if you "listen carefully." "I think things are better than they have been if you want to think about the prospects for improving our long-term fiscal position," Geithner said. He spoke in three separate interviews with CNBC, Bloomberg Television and the Fox Business Network. Geithner said there was no need to reassure foreign buyers of U.S. debt. "If you look at the price at which we borrow, there is a lot of confidence and that confidence is justified that America is getting stronger and that we are going to make sure we take on these challenges and start to address them," Geithner said.

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Geithner disagrees with S&P on debt outlook