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Geithner’s explanation of the administration's small-business tax plan came in an exchange with first-term Rep. Renee Ellmers (R.-N.C.). Ellmers, a nurse, decided to run for the U.S. House of Representatives in 2010 after she became active in the grass-roots opposition to President Barack Obama’s proposed health-care reform plan in 2009. “Overwhelmingly, the businesses back home and across the country continue to tell us that regulation, lack of access to capital, taxation, fear of taxation, and just the overwhelming uncertainties that our businesses face is keeping them from hiring,” Ellmers told Geithner. “They just simply cannot.” She then challenged Geithner on...

OCALA - A former restaurant owner and chef was arrested Friday for refusal to pay or file tax return, theft of sales tax and failure to file six consecutive sales tax returns. Loring W. Felix, 52, was picked up by Sheriff's Deputy Brian Haworth at 2811 S.W. 19th Court at 7 a.m. He was taken to the Marion County Jail, where he was booked in. The warrant was signed by Judge Willard Pope on Monday. Bond for the charges was $7,500. Felix's Restaurant had been a fixture at 917 E. Silver Springs Blvd. for close to a decade before closing...

A significant production problem with new high-tech $100 bills has caused government printers to shut down production of the new notes and to quarantine more than one billion of the bills in huge vaults in Fort Worth, Texas and Washington, DC, CNBC has learned. Initially scheduled for release in February of 2011, the new bills were announced with great fanfare by officials at the Treasury Department and the Federal Reserve in April. At the time, officials announced the new bills would incorporate sophisticated high-tech security features, including a 3-D security strip and a color-shifting image of a bell designed to...

Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat Joe Weisenthal Sep. 12, 2010, 9:11 PM If the government become paralyzed -- as is arguably the case already, and is clearly a serious risk should the GOP take over -- the US risks a 1930s-like scenario. At least according to Tim Geithner. That's the standout quote from an interview in the WSJ: [The] typical error most countries make coming out of a financial crisis is they shift too quickly to premature restraint. You saw that in the United States in the 30s, you saw that in Japan...

Over the years a lot of suspicion has built up across the country about Washington and its population of opportunistic transients coming to see themselves as a special kind of person, somehow above average working Americans who don't work down in that former swamp. Well, finally, an end to all those undocumented doubts. Thanks to some diligent digging by the Washington Post, those suspicions can at last be put to rest. They're correct. Accurate. Dead-on. Laser-guided. On target. Bingo-bango. As clear as it's always seemed to those Americans who don't feel special entitlements and do meet their government obligations. We...

Treasury Secretary Tim Geithner must have felt as if he'd made a wrong turn in the Rayburn House Office Building, and instead of taking a seat before the Committee on Oversight and Government Reform had wound up at the Committee on Insult and Abuse. It was a rare moment of bipartisan agreement: Republicans and Democrats alike seemed to detest the guy. They were asking about his role in the $180 billion bailout of insurance giant AIG, too-generous government payouts to AIG's business partners, and efforts to hide details of the deal from the public. But really, they were just angry...

Obama, Geithner Get Low Grades From Economists By PHIL IZZO U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to revive the economy from participants in the latest Wall Street Journal forecasting survey. Charts and Full Results Their assessment stands in stark contrast with Mr. Obama's popularity with the public, with a recent Wall Street Journal/NBC poll giving him a 60% approval rating. But a majority of the 49 economists polled is dissatisfied with the administration's economic policies. On average, they gave the president a mark of 59 out of 100, and although there...