Posted on 07/05/2011 5:57:33 PM PDT by Starman417
As Treasury Secretary Geithner prepares to leave office, he has the notorious distinction of being the worst Treasury Secretary in the history of the United States, at least in terms as presiding over the outrageous growth of Federal debt.
Of course, John Snow (3 1/4 years) was no slouch, nor was Hank Paulson (2 1/2 years). But no one ran up the debt like Tim Geithner.
To be fair, Geithner is only Treasury Secretary. Both President Bush and President Obama combined with Congress went on a spending spree unlike the world has ever seen.
Paul Krugman has espoused “But all this depends on our having the political will and cohesion to do what’s necessary. What if it turns out that we’re a banana republic, with crazy extremists having so much blocking power that we can’t get our house in order?”
(Excerpt) Read more at floppingaces.net...
I cannot believe that the leading candidate to replace Turbo is Dimon.
That would be like replacing the Secretary of the Interior with the hairman of Exxon.
Fox ruling over henhouse, same as we have had for how long?
Where is Aaron Burr when he is needed?
Interesting to see how low the debt went under Rubin and Summers, during Clinton’s term.
Ole BJ benefitted greatly from the “peace dividend” provided by the end of the cold war (that he had no part in) and a drastic reduction in military spending that had to be corrected afterwards.
And what happens to him for what he’s done...not a bloody thing!
It’s more than that. BJ lowered the interest rate on our debt by going to much shorter maturities.
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