Geithner Says Economy 'Definitely Healing'

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U.S. Treasury Secretary Timothy Geithner says the economy is healing, but the scars of the recession still linger. 

"The economy is definitely healing. We're making some progress in repairing the damage caused by the crisis," Geithner addressed a crowd in Palo Alto, Calif. on Monday.

According to Geithner, the economy has been growing for more than a year and President Obama's latest economic program will create more jobs.  

Businesses "are gradually putting people back to work," he said. "Private investment has really been quite strong. It grew at 20 percent early in the year, and it's still growing roughly 10 percent."

However, when asked what words of hope he could offer an unemployed Detroit factory worker, the treasury secretary appeared to stumble.
"The only answer you can say is that it is important we all recognize the government has more work to do to solve these problems, to get these people back to work as quickly as possible," he said.

Geithner's reply left many in the audience, including small business owner Hunter Whitney disappointed.

"There's been a lot of discussion about health care and the impact on the economy, and I really wanted to get his sense of what that would actually mean," Whitney said.

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