Geithner says US can 'no longer drive global growth'

BBC ^ | June 24, 2010

[bamahead]

US Treasury Secretary Timothy Geithner has told the BBC that the world "cannot depend as much on the US as it did in the past".

He said that other major economies would have to grow more for the global economy to prosper.

He also played down any differences in policy between the US and Europe regarding deficit reduction.

Mr Geithner was speaking in Washington ahead of G8 and G20 meetings this weekend in Toronto.

He said all members of the group were "focused on the challenge of [building] growth and confidence", and would be working to this end at the meetings.

[Wolfie]

What did you think exporting American jobs was about?

[Common Sense 101]

More inspirational messages from the a$$ clown administration and its clueless minions... when are we going to be able to wake up from this nightmare?

[Hoodat]

Geithner says US can 'no longer drive global growth' . . . because of Obama Administration policies.

Once Obama leaves office and the US returns to capitalism, we will once again be the source of wealth creation that drives the world economy.

Geithner knows nothing about the creation of wealth. He does not believe the pie can grow.

[SecondAmendment]

us consumer debt is driven by growth of the tax burden (fed and state) placed on them. geithner is telegraphing the dems intent to massively ramp up taxes.

[BobP]

We can't do jack since these clowns killed the housing-investment bank sectors...

YOUR TAX DOLLARS AT WORK - WAKE UP AMERICA

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[Travis T. OJustice]

they’re all brain dead when it comes to creating wealth. They sure have misery creation down as a solid science.

They do not want to create wealth in any way, they want to create misery, and dependence on the government. How else can they control us?

[Oceander]

Let's be a little more forthright, shall we Mr. Geithner: the US can no longer drive global economic growth because of what the democrats/liberals have done, and continue to do, to this poor nation. Get rid of the democrats/liberals' control on power, and this nation will once again be the driver of global economic growth.

Stupid effing liberal thief.

[Travis T. OJustice]

Spread it far and wide. (I stole it too)

We just got a new large format color printer. I think a half dozen already printed it out here.

[Fintan]

 

[Pearls Before Swine]

us consumer debt is driven by growth of the tax burden (fed and state) placed on them. geithner is telegraphing the dems intent to massively ramp up taxes.

True enough. But, even if he wasn't, we'd still be dealing with the real estate hangover (admittedly driven by the Dems pushing Fannie and Freddie and the banks to lend to anyone in sight). We aren't in any shape to stimulate the world economy by borrowing. But, the dems not only will make it worse, but seem to be pleased with both the situation and the increasing share of government in the economy.

I'm not supporting Geithner or the government position; I'm just saying that as a statement of fact, he wasn't that far off the mark.

[kabar]

America is bankrupt. Our growing massive debt coupled with an aging society with 10,000 people a day retiring for the next 20 years, which will cause the costs of our entitlement programs to balloon will mean that the US will be a poorer country with a lower standard of living. We have lived beyond our means for generations and now we will pay the consequences.

And our immigration polices import poverty with 1.2 million legal immigrants a year, most of whom are poor, uneducated, and unskilled. Milton Friedman said, “You cannot simultaneously have free immigration and a welfare state.” We have both.

[Dallas59]

Well then NO MORE AID MONEY!

[ILS21R]

You did mention the unemployment rate. That’s what I was looking for and is key. Everything else you mentioned comes back to it. The adminstration could put policies in place to reverse the unemployment trend, but they can’t. They don’t know how. Look at Obama’s cabinet. They could all teach at Harvard, but don’t know the first thing about running a 7-11. And throwing $2T to the wind doesn’t count. Hence, mission accomplished.

[Erik Latranyi]

"Our best days are behind us...'-Carter

...the world "cannot depend as much on the US as it did in the past"-Geithner

[Erik Latranyi]

How about: “I HOPE we can CHANGE it back”

[trickyricky]

"Geithner says US can 'no longer drive global growth'"

What happened? The printing presses break down?

[Peet]

From “Yes We Can” to “Never Again” in less than two years.

Never saw that coming. /sarc

[DooDahhhh]

I don’t think Timmy would recognize growth if it bit him in the ass.

[Clovis_Skeptic]

But, as soon as we toss your boss out on the street, AMERICA will be back on top!

If there is any shred of the USA as we know it left. I fear that they are racheting up our demise at such a rate, that it may be to late.

[ilovesarah2012]

They don’t want to create wealth. They want to redistribute it.