Posted on 11/01/2009 4:46:45 PM PST by blam
Geithner: The Deficit Is Gigantic, But We'll Deal With It Another Time
Joe Weisenthal
Nov. 1, 2009, 2:35 PM
On Meet The Press, Tim Geithner acknowledged the monster deficit, and said it had to be dealth with... but that was really a problem to be solved at some point down the road.
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AP: Treasury Secretary Timothy Geithner acknowledges the federal budget deficit is too high, but that the priorities now are economic growth and job creation.
Asked repeatedly on NBC's "Meet the Press" whether this means taxes will rise, Geithner avoided giving specifics. He did say President Barack Obama is committed to dealing with deficit in a way that will not add to the tax burden of people making less than $250,000 a year.
The White House has not decided how to reduce the red ink, Geithner said in an interview broadcast Sunday.
"Right now we're focused on getting growth back on track," he said. "And we're not at the point yet where we have to decide exactly what it's going to take."
[snip]
(Excerpt) Read more at businessinsider.com ...
Our children will have to deal with it, and I find that reprehensible ... and thus typical for Obama and his minions.
>> the priorities now are economic growth and job creation.
... and you SUCK at it, Timmy. Almost as bad as you suck at TurboTax.
If we're not at the point yet where we have to make a decision on a course of action to take then you have to wonder just how bad it will get before they wake up and realize America has been burried under a sea of debt created by these bums themselves.
Of course what Geitner is really saying here is that they have no idea how to surmount the towering deficit, but just so long as the financially secure people are getting screwed the most they can sit back, have a beer and wait. It's all happening by design.
“Don’t worry, our kids will be happy to pay the tab for our blowout party.”
True. But a very, very small silver lining is the jOker is already trying to craft his "historic" legacy. In the here & now, yeah there'll be countless People Magazine/Oprah-puff-pieces.
But History long-term can be brutal & unforgiving. Thus, the jOker's legacy during the next 2 to 4 generations won't be so rosy & full of literary spooning.
“...the priorities now are economic growth and job creation.”
Oh, really? When did that happen? Was it sandwiched in between managing that $787B political slush fund, err I mean TARP, or the $800B political payoff, I mean stimulus bill?
I wish Obama and his cronies would just stuff a sock in it.
Well the politicians are pimps!
http://www.washingtonsblog.com/2009/10/politicans-are-not-prostitutes-they-are.html
I don’t think it will be all that bad on our kids. The debt will have to be monetized. There will be a New America where we each get a monthly check for basics and where we can work for more if we desire. Most of us will. Wall Street will be a different place. We will end looking more like Europe.
parsy, who says it is coming whether we like it or not
Kiss-ass David Gregory even got frustrated with the tax dodger.
Can I be quite clear here... what we have, is what our grandparents, and our parents warned us about in a million different ways... what we have here are democrats! This is exactly what they do. They dissolve capitalism. Plain and simple. Democrats dissolve capitalism. The are the solvents to wealth created by work. A democrat will never, ever, contribute to the economy. This is truth as told by the ancients, and told by your grandparents. Give it up... there is no winning. They have the critical 51 percent.
He sure looked nervous as if the other shoe was about to drop.
will the dollar fall like a BaRock?
I agree with you that Democrats don't believe in free enterprise and lean heavily towards socialism, but never, ever, give up. If Americans gave up when FDR and his fellow socialists controlled America for 16 years we would never have had the booming economy during the the 50's, 60's, and most of the 70's and 80's. It was during this time that the U.S. really became an economic superpower. And it was a Republican Senate and Congress that checked Bubba Clinton and kept America running strong. You never give up, it's just something that is not in a winner's vocabulary.
Anyway, the US Constitution was designed to have two parties pulling at each other and pounding away at each other to help keep every one honest. It was designed to have both parties have their time to rule, and when a particular party is fouling up the joint the other party emerges into power and turns things around. So never, never, never give up. Just keep fighting the bas-turds.
Sure!We’ll deal with it when Obama’s No Longer in office.By then this country will be totally Bankrupt.Just like Kenya and other African Countries.
bttt
The Congress is considering a $2 Trillion Dollar increase to the debt ceiling right now. That might last them through the first of the year, and it might not. If things do not change, there is no telling how high the borrowing will go before Congress and the Administration can be reined in by the 2010 elections.
There are some things that are in motion that cannot be easily slowed or stopped. Confidence in the US Dollar is almost non-existent and we are about to find out the cost of that loss very, very soon. Even if we throw out the Congress in 2010, there is tremendous damage that will be done before then, and some of it could easily be irreparable. There are many scenarios that face us in the coming year that could easily involve thousands of deaths; an attack by Israel on Iranian nuclear facilities, and the resulting war is one good example.
If a true economic collapse is triggered, it could easily happen so fast that no Government in the world would be able to react fast enough to stop it.
This guy is so far over his head it is hard to believe. His Peter Principle was reached many years ago.
Yes...I worry about these things.
We? That fool isn’t going to deal with it. He and his idiots in the WH are doing everything they can to make sure that SOMEONE ELSE pays for their shortsightedness.
Little Timmy’s reason for being appointed to his position is he was Rubin’s coffee boy when him and Larry Summers started this mess under Clinton. The usual suspects have been brought back to the scene of the crime to make sure all the evidence mysteriously disappears.
Actually, we will probably have to deal with it. Ramped up inflation is in our immediate future. We ARE dealing with it as our savings disappear. Deficits are tho source of borrowing which takes assets out of the system and money creation which does the same.
The copy I have mentions three branches of government, but nothing about two political parties.
There are two sides in this war, and Obama's side will be opposed by real Americans. We can't stop him from spending a few trillion dollars of our children's money, but we can prevent or reverse much of the damage that the socialists want to inflict on us. The end of our would can be avoided, and it will be if we can find the right leader (if she'll have us, and I think my first choice loves our country enough to tolerate the down side of the job).
What kind of answer is that? How old is he? 12
"The copy I have mentions three branches of government, but nothing about two political parties."
Now that I've said this, I could care less if a third party comes to power and votes all the bums from the "R" and "D" parties out on their ears. In fact I pray it happens, the sooner the better. But it's more likely that we will have to bring the Republican party back to conservatism than we'll be able to make a 3rd party prevail over the status quo. But whatever it takes to save America from crumbling from within, may it happen fast.
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