Posted on 05/17/2011 2:21:54 PM PDT by mdittmar
(Reuters) - U.S. Treasury Secretary Timothy Geithner is facing growing criticism for his changing predictions on when the country might face a debt default, shifts that have led some Republicans to discount his dire warnings that the debt limit must be raised soon.
Since January, Geithner has changed his forecast of when the U.S. would hit its borrowing cap, and the final deadline for raising the debt limit, at least four times -- fueling a belief among rank-and-file Republicans that his latest August 2 deadline is artificial and can be ignored.
Some Democrats are increasingly worried that the changing calendar has been counter-productive, complicating efforts to get the $14.3 trillion borrowing cap raised because many conservative Republicans do not believe the country will start to default for many months.
"You can only cry wolf so many times," a former economic official in the Bill Clinton White House told Reuters.
(Excerpt) Read more at reuters.com ...
I guess they don't much care if he's a liar. And they don't much care what Republicans think. But the problem is that he's not a very good liar. He's not a very good propaganda orchestrator. After all, what did they hire him for but to persuade people that it's all the Republicans' fault?
I wonder if Tim paid his taxes this year?
Watch out for the bus Tim;)
Like I’m going to believe a guy, with advanced degrees in finance, that couldn’t even get his taxes right with a computer tax program! Duh!
Does anyone actually believe these guys?
"Aesops Fables, The Boy Who Cried Wolf".
Recommended reading for President Obama also.
What, you mean the Democrats can no long bribe the electorate with the taxpayers money... Amazing America is finally waking up to the danger of all this nanny state entitlement spending... Every time a Democrat says something negatvie about spending cuts Repbulicans need to be out front calling them corrupt politicians that try to stay in power by promising constituents that they will steal money from taxpayers to increase their own power base...
Someone ought to draw up a deck of cards, like they did with the Iraqi regime. Obama, King of...well, careful there! Biden the Joker, Geithner the Jack of Diamonds, Hillary the Queen of Hearts, etc...
Photo-shop "Treasury" on the cover of Hermey's book and you have Timmy!
Seems to me that when a family member overuses a credit card, you cut it up. Problem fixed...
OK. Let’s say that Timmy the rat is right and the Government will default on it’s debt if the debt ceiling isn’t raised by August.
And why would that be a bad thing? So the communist chinese and saudis don’t get paid. So what? And the Federal government can’t borrow as much money. Or maybe can’t borrow any additional money at all. OK, and how would *that* be a bad thing?
Sounds like the only people who lose in a default scenario are wall street, the banksters, the saudis, red china, and those who were too foolish to dispose of their t-bills while they could.
That was perfect.
War Powers Act limit set to expire for Obama’s Libyan intervention, on the 20th. Thanks mdittmar.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.