January 23, 2020 / 1:46 PM / in 2 months

Mnuchin says U.S. must cut government spending, shrink deficits -CNBC

Jan 23 (Reuters) - Treasury Secretary Steve Mnuchin said on Thursday the U.S. government cannot sustain federal deficits growing at current levels and will have to slow the rate of government spending.

As he acknowledged the administration of President Donald Trump was considering additional tax cuts to stimulate the economy, Mnuchin blamed government spending for the federal deficit.

"There's no question we need to slow down the rate of growth of government spending because we can't sustain these deficits growing at these levels," he said in an interview with CNBC from the World Economic Forum in Davos, Switzerland. (Reporting by Doina Chiacu; Editing by Alex Richardson)

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