Timothy Geithner: Debt Ceiling Debate Doesn't Have To Mean Crisis

05/17/2012 09:36 am ET | Updated Jul 17, 2012

WASHINGTON, May 17 (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday that raising the debt ceiling did not have to be a crisis, as it was last year when partisan bickering over how to do so brought the United States to the brink of default.

Geithner, speaking at an event in Baltimore, Maryland, reiterated that the United States is expected to reach the $16.4 trillion debt limit, or amount it is legally allowed to borrow, before the end of the year.