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Geithner: Can't let deficit fears stop investments
Reuters ^ | April 4, 2012 | By Karen Pierog

Posted on 04/04/2012 8:10:34 AM PDT by Oldeconomybuyer

Americans can't let fear of deficits stop necessary government spending, U.S. Treasury Secretary Timothy Geithner said on Wednesday as he laid out the administration's economic agenda ahead of November's presidential election campaign.

He said the U.S. economy still was in the process of deleveraging, or paying down excessive debts from the 2007-2009 financial crisis, but it was growing moderately and needs a boost that only government can provide.

"We have to be willing to do things, not just cut things," he said.

Geithner said big U.S. budget deficits were not sustainable indefinitely but suggested they shouldn't be made the primary challenge over all others and said they can be dealt with over time through a mix of spending cuts and revenue increases.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: budget; deficit; failure; obamanomics

1 posted on 04/04/2012 8:10:41 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer; All


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2 posted on 04/04/2012 8:12:40 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Oldeconomybuyer

Yes, anything to speed up the destruction of the American capitalist economy....you tell ‘em Tax Cheat Giethner.


3 posted on 04/04/2012 8:14:15 AM PDT by EagleUSA
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To: Oldeconomybuyer

If a guy can’t even fill out “Turbo Tax” he’s not my choice for financial advice. Besides, he’s a Marxist just like the rest of the administration’s cabal.


4 posted on 04/04/2012 8:16:34 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: musicman
"He said the U.S. economy still was in the process of deleveraging, or paying down excessive debts from the 2007-2009 financial crisis"

How does incurring more debt than any other place or time in history "pay down" prior debts? Sorry but I'm not connecting the dots here.

5 posted on 04/04/2012 8:20:59 AM PDT by circlecity
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To: Oldeconomybuyer

I wonder if fears of a solitary cell in Leavenworth for the rest of his criminal life would help tax-cheat Timmy control spending?????


6 posted on 04/04/2012 8:25:02 AM PDT by hal ogen (1st Amendment or Reeducation Camp?)
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To: Oldeconomybuyer
Let me simply restate the words of what Timmy is saying...

Don't let your fear of our destroying the United States cause you to prevent us from actually destroying the United States.

7 posted on 04/04/2012 8:25:10 AM PDT by C210N (Mitt "Severe Etch-a-Sketch" mcRominate-me)
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To: musicman

That cartoon is priceless!

I watched “Inside Game” again last night. Timmy and the rest of them can ALL step off.


8 posted on 04/04/2012 8:27:44 AM PDT by SueRae (Tale of 2 Towers - First, Isengaard (GOP-e), then, the Tower of Sauron on 11.06.2012)
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To: SueRae

(Thanks!) I liked "Inside Game" also!!

9 posted on 04/04/2012 8:35:52 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Oldeconomybuyer

Hey, Tax Cheat Geithner: STFU, you criminal!

http://www.youtube.com/watch?v=q5j6Yk0qAgQ


10 posted on 04/04/2012 8:37:46 AM PDT by carriage_hill (I'd vote for a "orange juice can", before 0bummer&HisRegimeFromHell, gets another 4yrs. Can-> later.)
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To: Oldeconomybuyer

There are few real investments associated with gov’t spending, timmy.


11 posted on 04/04/2012 8:40:36 AM PDT by Paladin2
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To: circlecity; C210N

IMHO, C210N brilliantly answers your question in Post #7 !!


12 posted on 04/04/2012 8:40:51 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Oldeconomybuyer
The word "investment" when he uses it is a lie.

13 posted on 04/04/2012 8:41:59 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: Oldeconomybuyer
Geithner: Can't let deficit fears stop investments

This is the same idiot that is Sec of the Treasury, a proven liar and tax cheat and admits to being so stupid he can't operate Turbo Tax, right?

Well Tim, what about the $16 TRILLION we owe and really have no hope of paying? The fact that our credit rating is sinking, the fact that the economy is in the gutter - Isn't that fear enough to want to make some budget cuts?!?

14 posted on 04/04/2012 8:47:19 AM PDT by The Sons of Liberty (Psalm 109:8 Let his days be few and let another take his office. - Mene, Mene, Tekel, Upharsin)
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To: Oldeconomybuyer

“Geithner arrested? 116 major bank resignations?”

http://www.washingtonsblog.com/2012/03/geithner-arrested-116-major-bank-resignations-what-the-finance-is-this.html


15 posted on 04/04/2012 8:51:30 AM PDT by Mortrey (Impeach President Soros)
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To: Oldeconomybuyer
There is no economic or financial case for using the fear of future deficits to cut as deeply into core functions of the government,

The Keynesian reliance on increased government spending and huge budget deficits leads to an assault on savings,an increased national debt burden,increased confiscatory taxation, increased risk of national bankruptcy,and inflation. These lead to decreased capital accumulation,decreased productivity of labor,decreased economic growth, decreased prosperity, decreased real wages and standard of living for the average worker, and economic decline.

To say there is no need to fear budget deficits is another example of the dishonesty of Keynesians who use it as a pretext for more statism and interventionism.

16 posted on 04/04/2012 8:58:37 AM PDT by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
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To: Paladin2

Investment is just a code word for vote buying.


17 posted on 04/04/2012 9:04:28 AM PDT by refermech
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To: Oldeconomybuyer

Americans can’t let fear of deficits stop necessary government spending Treasury Secretary Timothy Geithner said on Wednesday

I see the problem right away.
“necessary government spending”
I would venture that at least 30% of government spending is both unnecessary and never intended under our form of Government.


18 posted on 04/04/2012 9:06:03 AM PDT by SECURE AMERICA (Where can I sign up for the New American Revolution and the Crusades 2012?)
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To: Oldeconomybuyer
"...Americans can't let fear of deficits stop necessary government spending..."

It isn't often that we get to the cleavage point of a particular issue in the first sentence of any discussion anymore.

Does necessary include loans to Obama supporting businesses, benefits for illegal immigrants, sex changes for inmates, birth control for Sandra, bike trails, NPR, PBS, High Speed Rail projects, etc?

19 posted on 04/04/2012 9:06:20 AM PDT by rlmorel (A knife in the chest from a unapologetic liberal is preferable to a knife in the back from a RINO.)
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To: SECURE AMERICA

Dang. You beat me. GMTA.

I suspect the amount is 30-50% somewhere. That is a lot of money that we don’t have.


20 posted on 04/04/2012 9:09:09 AM PDT by rlmorel (A knife in the chest from a unapologetic liberal is preferable to a knife in the back from a RINO.)
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To: Oldeconomybuyer

Chicago Machine Speak: “Geithner: Can’t let deficit fears stop investments”

English translation: “Geithner: Can’t let deficit fears stop democrat party looting of billions in stolen money into the pockets of us mega-crooks.”


21 posted on 04/04/2012 9:13:02 AM PDT by FormerACLUmember
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To: musicman
Americans can't let fear of deficits stop necessary government spending, U.S. Treasury Secretary Timothy Geithner said on Wednesday as he laid out the administration's economic agenda ahead of November's presidential election campaign.

Timmy boy, just shut the heck up, and do your taxes...

the infowarrior

22 posted on 04/04/2012 9:36:30 AM PDT by infowarrior
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To: EagleUSA
Photobucket

The FAIRTAX is a far better solution.

It would have kept poor little Timmy here out of trouble and...

What? Say again?? Oh, you say that because he was well connected, HE didn't GET into trouble?

NEVER MIND!!


23 posted on 04/04/2012 9:52:32 AM PDT by Dick Bachert (I really want Obozo to have another term -- in Leavenworth! 25 to life sounds about right.)
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To: hal ogen
Photobucket

24 posted on 04/04/2012 9:58:53 AM PDT by Dick Bachert (I really want Obozo to have another term -- in Leavenworth! 25 to life sounds about right.)
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To: Oldeconomybuyer
"Americans can't let fear of deficits stop necessary government spending..."

I guess that would all depend on ones definition of "necessary, wouldn't it?

25 posted on 04/04/2012 10:09:53 AM PDT by getgo
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To: SECURE AMERICA

Republican Candidates could improve their Primary vote count by campaigning with the following idea:

Due to the FHA, Fannie and Freddie Bankruptcies of September, 2008, American home owners lost 30 % of the value of their homes. That is a 30 % cut in just one month. Home values are still down 30 %.

Thus, let us cut the total compensation to all elected Federal politicians, and their staffs by 30 %, and an additional 10 % cut to elected Federal politicians each year until Federal Spending is LESS THAN the average of the previous 2 years of Federal income.

BTW, since slightly less than half of the US House, and 2/3 of the US Senate are Millionaires, it will be a great opportunity for Congress to lead by example that EVERYONE should give up their “fair” share of the American Dream.

What better way can there be to demonstrate that Federal politicians are on the same page as the voters?


26 posted on 04/04/2012 11:43:32 AM PDT by Graewoulf ((Dictator Baby-Doc Barack's obama"care" violates Sherman Anti-Trust Law, AND U.S. Constitution.))
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