Skip to comments.Geithner hails 'very encouraging' recovery, stresses private growth (barf)
Posted on 07/25/2010 9:59:51 AM PDT by Justaham
Treasury Secretary Timothy Geithner said the economy was experiencing "very encouraging" recovery, but cautioned that a transition from government intervention to private investment needed to be made to keep recovery going.
Geithner, appearing Sunday morning on both ABC's "This Week" and NBC's "Meet the Press," struck a mostly optimistic tone even when asked about Fed Chairman Ben Bernanke's remarks last week that the economic outlook was "unusually uncertain."
On NBC, Geithner said he didn't find anything unusual about cautious growth given the severity of the recession.
"Americans are still living with some caution," he said, adding that healing was occurring and taking one of numerous digs at the previous administration: "This was a recession caused by a set of policies that left us with a $1.3 trillion deficit when this president came into office."
"We've seen six months of positive job growth by the private sector," Geithner said on ABC. "That's pretty good.
"...We want to see it happen at a faster pace," he said. "But I think most people understand that, you know, this was a deep crisis. The scars ran very deep, devastating damage. It's going to take time to repair that damage, take time to grow out of this, but we're making progress."
The Treasury secretary said that he believed the economy would gradually strengthen over the next year or two, "but we've got a long way to go still." Businesses "faced with the prospect of the economy falling off a cliff are still cautious" about hiring and investment, he said on "Meet the Press."
Geithner, while stressing that he does not believe the country is headed for a double-dip recession, said that the new financial reform law would help avert a crisis in the future with better "shock absorbers."
(Excerpt) Read more at thehill.com ...
What a kook ball. The summer of recovery continues unabated.
Very encouraging, if you’re an east coast investment banker or Federal union worker. The rest of us........not so much.
“Geithner hails ‘very encouraging’ recovery”
Except for the....you know.....JOBS!
Yet wasn’t it just a day or two ago with a news report the WH expected 9% unemployment at least until 2012?
Geithner is way in over his head. All of them are. It’s a disaster to put these fools in charge of the economy.
My wife talks to fellow coworkers whose spouses are getting their hours cut or laid off.. Heck some of them are going to food banks...
Timmy, sniffing glue again? All I see are stores closed, restaurants empty, people talking about how they lost their jobs.
What the heck is he smoking? And no, I don’t want some.
Save this story for the “new” recession coming next year
The Pubs are going to win big in November and the stage for the second part of the double dip recession has been set for 2011 so the Pubs will get the blame.
Allowing the redemption of Obama running in 2012.
If we put up another Bob Dull/Juan McLame again to run against him, we’re doomed.
Millions of private sector jobs going away is "pretty good"?
These liars are going to start the idea that 8% unemployment and $1 trillion dollar deficits are “good” results, even though they told us how bad things were when President Bush had 5% unemployment and $500 billion dollar deficits.
Unfortunately, there is about 35-40% of the population that will be dumb enough to believe this crap!
And here I thought the economy was “around the corner” six months ago. They keep postponing the “media” keeps forgetting. My guess is that six months from now, they’ll do this all over again.
Bernanke lied a little.
Geithner lies a lot.
The “caution” is your doing Tyrannical Timmy.
These guys just don’t get. It seems that about every third person I talk to is not working. Some have given up, but most are struggling to find any kind of work, never mind about finding a job. Maybe Lie-thner needs to distribute some of the Kool-Aid he and Team Zero are drinking so the rest of us can feel good about the “recovery.”