Liberals never understand the concept of American exceptionalism or now    
   freedom and liberty drive the human condition.   
      
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   http://news.bbc.co.uk/2/hi/business/10406463.stm   
      
   Geithner says US can 'no longer drive global growth'   
      
   US Treasury Secretary Timothy Geithner has told the BBC that the world    
   "cannot depend as much on the US as it did in the past".   
      
   He said that other major economies would have to grow more for the    
   global economy to prosper.   
      
   He also played down any differences in policy between the US and Europe    
   regarding deficit reduction.   
      
   Mr Geithner was speaking in Washington ahead of G8 and G20 meetings this    
   weekend in Toronto.   
      
   He said all members of the group were "focused on the challenge of    
   [building] growth and confidence", and would be working to this end at    
   the meetings.   
      
   The Group of Eight and Group of 20 rich and developing nations are    
   assembling on Friday for three days of talks on emerging from the worst    
   financial crisis since the Great Depression.   
      
   UK Prime Minister David Cameron, who has arrived in Canada along with    
   other leaders, said in an article for the Globe And Mail newspaper: "No-   
   one can doubt the biggest promise we have to deliver: fixing the global    
   economy."    
      
   "I believe we must each start by setting out plans for getting our    
   national finances under control," he added.   
      
   Common goals   
       
   Many European governments have implemented severe austerity measures in    
   recent weeks in order to cut debt levels.   
      
   In a letter to G20 leaders last week, US President Barack Obama warned    
   against cutting national debts too quickly as it would put economic    
   recovery at risk.    
      
   Continue reading the main story We're in the very good position of being    
   able to deliver relatively strong growth rates [compared] to what we're    
   seeing in other major economies   
   Timothy Geithner   
       
   US Treasury Secretary   
    But Mr Geithner said the US and Europe "have much more in common than    
   we have differences".   
      
      
   But he said that the US and Europe would take "different paths, at a    
   different pace" in order to reach the common goal.   
      
   "It's going to require different things as we have different strengths    
   and weaknesses," he said.   
      
   Mr Geithner said the US was not in a position to work out what were the    
   best policies for European countries to pursue.   
      
   'Strong growth'   
       
   The treasury secretary said the US had laid out "very ambitious plans as    
   well" to cut its deficit.   
      
   But he said the US was in a stronger position than many other economies    
   to cut its debt levels.   
      
   "We're in the very good position of being able to deliver relatively    
   strong growth rates [compared] to what we're seeing in other major    
   economies," he said.   
      
   Some commentators in Europe argue that austerity measures should only be    
   introduced once strong growth has been secured in the wake of the global    
   downturn.    
      
   This was a more widely held position until the Greek debt crisis focused    
   policymakers' minds on cutting debt levels.    
      
   The Greek crisis showed that governments with high levels of debt find    
   it very difficult to borrow money from international investors, money    
   that they need to service existing debts.   
      
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