A lot of American's are becoming depressed about the National debt. It seems overwhelming. Unmanageable. And now Geithner admits there is a delema. 

Finally a member of administration sort of admits that. Note the phrase, ". . .very important for everyone to understand we will not get this economy back on track, recovery will not be strong enough to sustain unless we can convince the American people that we're going to have the will to bring these deficits down once recovery is firmly established."

And what does that mean? It means the government has to convince us that raising taxes is a good thing. Well you asked for it. You're gonna get it!

Watch the video on George Stephanopoulos' ABC blog and hear for yourself.

Here is a transcript of a portion of the video. Read it and tell others what you think is going to happen? Tax increases? For whom? Add your comments below.

STEPHANOPOULOS: I do want to want to get to that and as we pull out of the recession the other big worry going forward is deficits. You heard that from the Chinese this week. You hear that this week and our next guest Alan Greenspan has warned of this as well, and Senator Charles Grassley, the Republican ranking member of the Finance Committee cited CBO estimates, Congressional Budget Office estimates, that your budget will add 9 trillion dollars to the national debt over the next decade.

SEN. CHUCK GRASSLEY: Our debt as a percentage of the economy will grow in excess of 80% a level that also has not been seen since this country was in World War II.

STEPHANOPOULOS: That is a very high level and I know you believe that passing health care is central for getting the deficit under control but independent analysts say even with that you are going to need to find new government revenues. The former deputy Treasury Secretary Roger Altman said it is no longer a matter of whether tax revenues should increase but how. Is he right?

GEITHNER: George it is absolutely right and very important for everyone to understand we will not get this economy back on track, recovery will not be strong enough to sustain unless we can convince the American people that we're going to have the will to bring these deficits down once recovery is firmly established. Remember we inherited a 1 point three trillion dollar deficit. The cumulative consequences of the policies this country pursued over the last 8 years left us with 6 million dollars of more debt than we would have had by making a bunch of commitments to cut taxes and add to spending without paying for those. We are not going to be able to afford to do that. And it is very important that people understand that. Our first priority now though is to get this economy back on track, make sure this financial system is repaired. Without that, we're not going to get our deficits under control and the necessary path to fiscal responsibility, the necessary path to getting this country living within our means again is not just health care reform, to bring down those costs, but we're going to a range of other things and that's going to be a very difficult challenge for this country. We can do this, it just requires the will to act.

STEPHANOPOULOS: Including new revenues?

GEITHNER: Well, we're going to have to look at  we're going to have to do what's necessary. Remember the critical thing is people understand that when we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically. We have to bring them down to a level where the amount we're borrowing from the world is stable at a reasonable level. And that's going to require some very hard choices. And we're going to have to do that in a way that does not add unfairly to the burdens that the average American already faces.