Geithner to GOP Frosh: Raise Debt Limit or 'Lights Out'

The Hill reports:

Treasury Secretary Timothy Geithner on Thursday warned skeptical Republican freshmen it would be “lights out” for the economy if Congress fails to raise the debt ceiling.

Geithner trekked to Capitol Hill on the same day that Moody’s Investors Services warned that the nation’s perfect credit rating could be at risk if lawmakers do not make progress on a debt deal.

“Everything that we got in there from him is a step in the right direction, ” said Rep. Austin Scott (Ga.), the president of the GOP freshman class.

Others were more blunt.

Rep. Joe Walsh (R-Ill.) said in a tweet that he was “disgusted and discouraged” by what he heard from the Treasury chief.

Some Republicans said they were frustrated because Geithner did not offer up any compromises for solving the nation’s fiscal crisis, other than acknowledging broadly that entitlements need to be reformed.

Leaders of the freshman class struck a diplomatic tone after the session, but there was little evidence that Geithner’s argument won anyone over.