Does Geithner Need Turbo Tax’s Treasury Edition?

IBD's Capital Hill ^ | 2/24/2010 | David Hogberg

[Slyscribe]

House Budget Committee Chairman John Spratt, D-S.C., this morning asked Treasury Secretary Timothy Geithner how much the government’s bailout of mortgage finance giants Fannie Mae (FNM) and Freddie Mac (FRE) would add to the deficit if that bailout was “consolidated” into the federal budget. (At present, the Obama Administration keeps it “off budget.”) Here’s Geithner’s answer:

I think the CBO answer would be — this is a matter for accountants — is that it would be no impact on the deficit.

That doesn’t appear to be what CBO said:

[a fool in paradise]

Don’t ask this man any financial questions. He couldn’t even settle his OWN taxes.

[paul51]

we have the blind leading the ignorant in this administration

[RicocheT]

Great article title and great Geithner slam. He is as good a Treasury Secretary as Omama is president.

[OneWingedShark]

>Does Geithner Need Turbo Tax’s Treasury Edition?

Yes; but that STILL won’t stop him from making “mistakes” that, were he in the private sector, be punishable with time in a Federal “pound-me-in-the-ass” prison.

[Phyto Chems]

So help me get this straight. The CBO says that it needed 291 Billion for the current fiscal year, and they ONLY project 99 Billion for the next 9 years (2010 - 2019). What have they been smoking at CBO? Maybe "The ONE" has infected them also.