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Posted on 04/04/2012 8:10:34 AM PDT by Oldeconomybuyer
Americans can't let fear of deficits stop necessary government spending, U.S. Treasury Secretary Timothy Geithner said on Wednesday as he laid out the administration's economic agenda ahead of November's presidential election campaign.
He said the U.S. economy still was in the process of deleveraging, or paying down excessive debts from the 2007-2009 financial crisis, but it was growing moderately and needs a boost that only government can provide.
"We have to be willing to do things, not just cut things," he said.
Geithner said big U.S. budget deficits were not sustainable indefinitely but suggested they shouldn't be made the primary challenge over all others and said they can be dealt with over time through a mix of spending cuts and revenue increases.
(Excerpt) Read more at reuters.com ...
Yes, anything to speed up the destruction of the American capitalist economy....you tell ‘em Tax Cheat Giethner.
If a guy can’t even fill out “Turbo Tax” he’s not my choice for financial advice. Besides, he’s a Marxist just like the rest of the administration’s cabal.
How does incurring more debt than any other place or time in history "pay down" prior debts? Sorry but I'm not connecting the dots here.
I wonder if fears of a solitary cell in Leavenworth for the rest of his criminal life would help tax-cheat Timmy control spending?????
Don't let your fear of our destroying the United States cause you to prevent us from actually destroying the United States.
That cartoon is priceless!
I watched “Inside Game” again last night. Timmy and the rest of them can ALL step off.
(Thanks!) I liked "Inside Game" also!!
There are few real investments associated with gov’t spending, timmy.
IMHO, C210N brilliantly answers your question in Post #7 !!
This is the same idiot that is Sec of the Treasury, a proven liar and tax cheat and admits to being so stupid he can't operate Turbo Tax, right?
Well Tim, what about the $16 TRILLION we owe and really have no hope of paying? The fact that our credit rating is sinking, the fact that the economy is in the gutter - Isn't that fear enough to want to make some budget cuts?!?
“Geithner arrested? 116 major bank resignations?”
The Keynesian reliance on increased government spending and huge budget deficits leads to an assault on savings,an increased national debt burden,increased confiscatory taxation, increased risk of national bankruptcy,and inflation. These lead to decreased capital accumulation,decreased productivity of labor,decreased economic growth, decreased prosperity, decreased real wages and standard of living for the average worker, and economic decline.
To say there is no need to fear budget deficits is another example of the dishonesty of Keynesians who use it as a pretext for more statism and interventionism.
Investment is just a code word for vote buying.
Americans can’t let fear of deficits stop necessary government spending Treasury Secretary Timothy Geithner said on Wednesday
I see the problem right away.
“necessary government spending”
I would venture that at least 30% of government spending is both unnecessary and never intended under our form of Government.
It isn't often that we get to the cleavage point of a particular issue in the first sentence of any discussion anymore.
Does necessary include loans to Obama supporting businesses, benefits for illegal immigrants, sex changes for inmates, birth control for Sandra, bike trails, NPR, PBS, High Speed Rail projects, etc?
Dang. You beat me. GMTA.
I suspect the amount is 30-50% somewhere. That is a lot of money that we don’t have.
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