Skip to comments.Geithner: We Have No Solutions
Posted on 02/17/2012 12:39:53 PM PST by Kaslin
RUSH: I mentioned at the top of the program that Geithner appeared on Capitol Hill, House committee on the budget yesterday, the 2013 budget. Paul Ryan said: "Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability." That's everything we owe everybody, $99.4 trillion, not a 16 or $17 trillion national debt, but all the promises and all the IOUs, $99.4 trillion unfunded liability. "Our government is making promises to Americans that it has no way of accounting for them. And so you're saying yeah, we're stabilizing it but we're not fixing it in the long run. That means we're just going to keep lying to people. We're going to keep all these empty promises going. And so what we're saying is, in order to avert a debt crisis -- you're the Treasury Secretary -- if we can't make good on our bonds in the future, who is going to invest in our country?"
GEITHNER: We're not disagreeing in the sense that I made it absolutely clear that what our budget does is get our deficits down to a sustainable path over the budget --
RYAN: And then they take back off.
GEITHNER: -- over the budget window. And why, why do they take off again? Why do they do that?
RYAN: Because we've got 10,000 people retiring every day --
RYAN: -- and health care costs going up at --
GEITHNER: We have millions of Americans retiring every day and that will drive substantial for the rate of growth of health care costs. And so you were right to say we're not coming before you today to say we have a definitive solution to that long-term problem.
RUSH: He admits it. He told Paul Ryan, "We're not, the regime, we're not coming before you today to say we have a definitive solution to the long term problem." And then he went on to say, "What we do know is we don't like yours," to Paul Ryan, to the Republicans. We don't have a solution, but we don't like yours. Well, wait a minute. What happened to compromise? What happened to working together? What happened to crossing the aisle? You notice how that only goes one way? So here comes this little twerp who cheated on his taxes, and he says, "We don't have a solution for any of this. But we don't like yours," acknowledging that Ryan and his boys have a solution. But the regime doesn't like it. And you know why? 'Cause they don't want a solution.
Wow, no wonder our country is in financial trouble. Ryan says we have “10,000 people retiring every day.” Little Timmy agrees and then says “millions are retiring every day.” The idiot sucks at math! And he’s supposedly the only guy we have that knows how to get us out of this mess? God help us!
Mrs. Prince of Space
accumulated in what time frame and backed with what collateral? hmmm....
A rebellion won't be necessary. Their tower of babble is about to collapse by itself. Unfortunately, we the people are going to have to clean up the mess and find a better way to work together - without them! (which will be what our founding fathers wanted in the first place).
I don’t think there are too many pols, on either side of the aisle, who have the guts to do what needs to be done. The necessary painful cuts in spending would get them voted out of office. They’d rather wait for the collapse, then point the finger at each other.