Posted on 07/28/2009 3:14:41 PM PDT by Oldeconomybuyer
WASHINGTON (AP) -- Treasury Secretary Timothy Geithner says he has reassured China that the United States will take steps to address rising budget deficits once the economic recovery is firmly in place.
China has huge investments in the United States and has worried it could be undermined by U.S. budget deficits. Geithner says the Obama administration plans to reverse the spending of hundreds of billions of dollars devoted to stimulating the economy and propping up a teetering financial system.
(Excerpt) Read more at finance.yahoo.com ...
Bets are you guys will either be already voted out of office by the time real recovery takes place or Barry will have been made dictator for life. You choose.
Timothy Geithner says he has reassured China that the United States will take steps to address rising budget deficits once the economic recovery is firmly in place.
Translation: Huge tax increases.
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA
NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
OBAMA, THE STOCK MARKET, AND ENERGY
BARACK HUSSEIN OBAMA IN HIS OWN WORDS
THE AUDACITY OF TRUTH ABOUT BARACK HUSSEIN OBAMA'S UPBRINGING
Hey Geithner, how ‘bout we hold up your paycheck until you pay your taxes and get out of prison! TAX CHEAT!!
I trust ‘em. I mean, it’s not like they’ve broken this promise before.
Obama needs a session with that Dave Ramsey guy. Heck, so did George W. Bush. Bush never had any reason to worry about money because of his family so I was not surprised that he spent it like water. But this Obama guy, you would think he had a little respect for a dollar. But he does not. He’s busting the whole economy. Killing the country financially. What recovery? You can’t recover from death.
I'm thinking we are in much deeper doo doo than we have been led to believe...
“once the recovery is in place”???????
hahahahahahahahahah “once the recovery is in place????? hahahahaahahah
that’s a good one, Tim.... hahahahaha
Did they laugh at him?(again)
Maybe he’s planning on using some of those “instant checks” that come from Visa or Mastercard...
This equates to a contraction in aggregate demand just as the economy recovers. The economy would head straight back into the tank. And, if they let the recovery chug along for a while, a shrinking in government spending would, according to Lord Keynes, send us into another recession. Its a fool's trap. Once government spending replaces consumer spending its in the system. If consumer spending comes back, any reduction in government spending will shrink the economy.
At best, we will be doing the Japanese economic shuffle for decades...
So... how does your average tax cheat in his early forties gain so much economic power???
Cue up Stevie Ray Vaughn: Taxman
“I’ll gladly pay you Tuesday for a hamburger today.”
BWAHAHAHAHAHAHAHAHA.
There is an old saying when I was with the government: The more you screw up, the more you move up.
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