Posted on 09/11/2011 11:21:07 AM PDT by John Semmens
News that this year’s projected federal fiscal deficit is $30 billion lower than last year’s ($1.23 trillion vs. $1.26 trillion) was cited by Treasury Secretary Timothy Geithner as “a sign we’re on the right track.”
“I know it’s only a small one-year improvement, but if we can maintain this pace, the budget will reach equilibrium in only 40 years,” Geither asserted. “Of course, maintaining this pace will require both a full team effort and a little luck.”
Geithner brushed off the criticism that maintaining the current pace would add at least $25 trillion more to the nation’s debt. “Look, $25 trillion in added debt shouldn’t scare anyone who’s familiar with the government’s estimated $500 trillion in liabilities for promised pensions and medical benefits,” Geithner suggested. “Anyway, these are just numbers in a ledger somewhere. They can be erased by an act of Congress or diluted into insignificance by the Federal Reserve if necessary to protect the solvency of the government.”
read more...
http://azconserv1.wordpress.com/2011/09/09/president%e2%80%99s-jobs-speech-wows-congress/
GeithnerIdiot and this idiot-ridden administration are so frakin’ clueless and desperate, they would hail a prostitute that saved them $5 as a reduction in the deficit. /s =.=
(...crickets...)
This guy, Timmy Geithner, is criminally incompetent. Even if this post was intended as satire, it is far to close to the truth to be comfortable.
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