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Geithner: Yeah, we donít have a solution to the debt problem ("We just don't like your solution")
Hotair ^ | 02/17/2012 | Ed Morrissey

Posted on 02/17/2012 11:41:38 AM PST by SeekAndFind

Guy Benson calls this "the political quote of the year", but it may be more like the defining moment of Obamanomics and Barack Obama's fiscal policies. Paul Ryan destroyed interim OMB chief Jeffrey Zients in testimony before Congress this week already, deconstructing White House claims to have $2 trillion in deficit reduction over the next ten years when their contribution to that effort was only $400 billion, or roughly $40 billion a year. In this five-minute clip, Ryan points out that the budget he proposed last year actually eliminated deficit spending over the long term, while the budget Obama proposed this week estimates escalating debt for decades to come. When Ryan asked Treasury Secretary Tim Geithner why Obama isn’t even making an attempt to solve the long-term problem, Geithner responded with a moment of breathtaking — and shocking — honesty:

CLICK ABOVE LINK FOR THE VIDEO

Treasury Secretary Timothy Geithner, speaking on behalf of the Obama White House, to Rep. Paul Ryan: “You are right to say we’re not coming before you today to say ‘we have a definitive solution to that long term problem.’ What we do know is, we don’t like yours.”

Guy sums this up well:

Those two sentences speak to a mentality so bereft of intellectual vigor, so stunningly and candidly shallow, so thoroughly irresponsible, so politically myopic, selfish, and cowardly, that it should disqualify this crew from a second term in office. What a disgrace. Remember this moment the next time Democrats accuse the GOP of being the “do nothing,” intransigent, “party of no.”

In fact, it’s about as perfect a representation of Obama’s economic policy as we’ll see. The budget is full of short-term gimmicks to make it appear that the White House wants to close deficits, but it relies on tax increases and phony savings from projected war spending that wasn’t going to occur anyway to make the claim. They do nothing at all about the structural problems of America’s long term economic issues (especially debt and unfunded liabilities from entitlement programs), but instead focus narrowly on relatively short-term outcomes to disguise the fact that they cannot and/or will not fix the long-term problems. And as Geithner says in this response, while they won’t or can’t provide leadership, they will be happy to torpedo those who can and will — like Paul Ryan.

Make sure to store this moment in the memory banks. The GOP will be using this clip for a very, very long time to come — along with the two charts Ryan shows during the exchange. Even if Obama’s budget wasn’t already DOA in Congress, Geithner just killed it. He also stuck a stake through the heart of Obama’s strategy of using it as a campaign platform to hit Republicans, and the backfire from it will last all year.

CLICK ABOVE LINK FOR THE VIDEO



TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: debt; geithner; jeffreyzients; paulryan; ryan; timgeithner; zients

1 posted on 02/17/2012 11:41:46 AM PST by SeekAndFind
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To: SeekAndFind

Let’s hope the Republicans use that clip.

Over and over.

Even if Boehner doesn’t like it.


2 posted on 02/17/2012 11:50:53 AM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: SeekAndFind
“You are right to say we’re not coming before you today to say ‘we have a definitive solution to that long term problem.’ What we do know is, we don’t like yours.”

Not to hijack a thread, but this is basically the secular position on evolution.

The secularists think they have answers on the evolution of life on this planet. They have data. They assemble conjectures and guesses. They say, "Evolution is proven."

But then something inconvenient raises its head and they need to rethink their data. This happens frequently. They say that "re-assessing the data" is what science is all about -- but one could also just say, "Our previous guess turns out to have problems. We don't have a definitive solution to this question. What we know is, we don't like yours."

3 posted on 02/17/2012 11:52:44 AM PST by ClearCase_guy (I am pro-Jesus, anti-abortion, pro-limited government, anti-GOP.)
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To: SeekAndFind

Did you hear Rush today when he said he just didn’t care about it all today? That it’s gotten so ridiculous so ludicrous that he just didn’t care?

Yeah, dittos Rush, dittos.


4 posted on 02/17/2012 11:53:02 AM PST by SpringtoLiberty (Liberty is on the march!)
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To: SpringtoLiberty

Haven’t listened to Rush for a while. Mainly the message of how to earn success has been proven and the voters have rejected it. Obama promises the common goods from those who are productive. What you gonna do about it?
We’re in a ‘special interest group’ economy. Each group is fighting over resources limited (crumbs) by the government.


5 posted on 02/17/2012 12:10:36 PM PST by griswold3 (Big Government does not tolerate rivals.)
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To: SeekAndFind

I put Timmah’s name in my book..
“People I Want to Punch in the Face” -Griswold3


6 posted on 02/17/2012 12:15:22 PM PST by griswold3 (Big Government does not tolerate rivals.)
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7 posted on 02/17/2012 1:32:52 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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Thanks Vintage Freeper for posting this:

Debt Ceiling Debate in a Nutshell | Creators.com | 07/29/2011 | Chip Bok | Posted on 07/30/2011 12:12:11 PM PDT by Vintage Freeper

8 posted on 02/25/2012 11:45:59 AM PST by SunkenCiv (FReep this FReepathon!)
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