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Skepticism grows on Geithner's debt limit deadline
Reuters ^ | e May 17, 2011 | Tim Reid and Rachelle Younglai

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 ...


TOPICS: Breaking News; Constitution/Conservatism; Crime/Corruption; Front Page News; News/Current Events
KEYWORDS: crywolftimmy; debtceiling; debtlimit; geithner; obama; timmygoinunderdabus; timothygeithner; turbotaxtimmy
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To: SunkenCiv

21 posted on 05/17/2011 5:23:02 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: mdittmar
Geithner and Obama are currently raiding the Federal pension fund (which is fully solvent and funded). That is one of the reason they are able to get away with this shell game.

Imagine, for one second, if GW Bush did that. The Democrats and media would have gone CRAZY.

I am so disgusted by all of this.

To further twist the knife, Biden has been said to be "agreeable" to a proposal to steal 5% of federal workers salaries, to put into the Federal pension fund, so that Obama and Geither can raid it some more.

Now, tell me again - what if GW Bush did that?!

22 posted on 05/17/2011 5:25:30 PM PDT by SkyPilot
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To: mdittmar

The word is that he might be able to keep borrowing indefinitely because there is no “OR ELSE” in the section of the law that would apply to borrowing beyond the debt limit.


23 posted on 05/17/2011 5:39:13 PM PDT by Revel
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To: Revel

Too bad people have time to post in the usual 1000 page dancing with the stars thread and not important issues such as this.


24 posted on 05/17/2011 8:29:57 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: Revel

How about You SHALL stop spending and borrowing.


25 posted on 05/17/2011 8:31:09 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: SunkenCiv
War Powers Act limit set to expire for Obama’s Libyan intervention, on the 20th.

The War Powers Act only comes into play when there is a "national emergency created by attack upon the United States, its territories or possessions, or its armed forces." There has never been any contention that this requirement was met in the U.S. attack on Libya. The justification was that the attack was for "humanitarian" reasons. Therefore Obama never had authority to get the U.S. involved in the war in Libya, not for 30 days, not for one minute.

The War Powers Act has been simply ignored, both by Obama and the liberals as well as the weak, effete, Republican elite who are our congressional "leaders".

26 posted on 05/17/2011 8:58:13 PM PDT by Prokopton
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To: SkyPilot

“Federal employee unions” ... crickets...

membership (federal employees) ... crickets...

Do they know that their fat paychecks are coming from a house of cards ?

Media (snoring)...


27 posted on 05/17/2011 10:54:32 PM PDT by PieterCasparzen (Huguenot)
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To: Prokopton

If our newly elected Congress cedes it power here it is over.


28 posted on 05/18/2011 2:28:09 AM PDT by screaminsunshine (Shut up and eat your Beans!)
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To: mdittmar

Tim better watch behind him, or the door might hit him from behind someday when he’s on his way out. But seriously, how hard do some of these people work? They often don’t sound all that scripted, like they used to. It’s as if...

Well, it’s rediculously bad orchestration, and it’s so bad that even a conservative independent like myself feels they should do mock stage performances in the White House because they seriously just cannot act.


29 posted on 05/18/2011 7:01:41 AM PDT by Morpheus2009
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To: screaminsunshine
If our newly elected Congress cedes it power here it is over.

They already did. The War Powers Act specifically prohibited Obama from attacking Libya without congressional approval. Obama did it anyway and Congress did nothing. The Imperial Presidency is already a reality and "leaders", like Crybaby Boehner, kneel at his feet.

30 posted on 05/18/2011 8:11:49 AM PDT by Prokopton
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To: mdittmar; NormsRevenge

http://www.c-spanvideo.org/program/GeithnerRema

Secretary Geithner spoke about the state of the U.S. economy and Obama administration efforts to address the national debt. In his remarks he called for bipartisan cooperation of the debt. He also spoke about the financial .. SNIP

Harvard Club on C-Span, yesterday Tim Geithner spoke for an hour about his smoke and mirror solutions.

Geithner responded to an audience member.

Must see Geithner answers question from audience member, Eric Alterman (who wrote a book), at 52:18 (of 1:03.18)

Other threads today discussing Geithner’s appearance:

http://www.freerepublic.com/focus/f-news/2721322/posts?q=1&;page=1#1

http://www.freerepublic.com/focus/f-news/2721210/posts


31 posted on 05/18/2011 9:26:06 AM PDT by widdle_wabbit
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To: Dubya-M-DeesWent2SyriaStupid!

That is not a bright man. He has never worked in finance — a government toady. An ahole, imo, and his nose grows more every time I see him. Nice hair, though.


32 posted on 05/18/2011 12:57:41 PM PDT by ichabod1 (Hail Mary Full of Grace, The Lord Is With Thee...)
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