You're mocking me, aren't you?
Posted on 11/19/2012 8:41:48 AM PST by Nachum
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Home » News Treasury Secretary Geithner: Lift Debt Limit to Infinity By Elizabeth Harrington November 19, 2012 Subscribe to Elizabeth Harrington's posts
(CNSNews.com) - Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
(Excerpt) Read more at cnsnews.com ...
I agree! However having the ceiling keeps it in the news when it is reached.
You're mocking me, aren't you?
good, thanks. you gotta remember to put that in your account next time. kinda important. :-)
hmm..infinity...about matches the world’s “investment banking” derivative exposure at this point...WHY NOT? /s
“...overturning the existing basis of society than to debauch the currency”
Thats what the Federal Reserve is about....
What is the basis for your assumption, "...either...or..."?
Isn't "...and.." most likely?
I’d like to ask him “Is there any level of debt the Federal government should not exceed?”.
Then trying to explain the Weimar Republic in Germany after WWI would be useless.
Treasury Secretary Timothy Geithner, speaking on behalf of the Obama White House, to Rep. Paul Ryan: “You are right to say we’re not coming before you today to say ‘we have a definitive solution to that long term problem.’ What we do know is, we don’t like yours.”
Guy sums this up well:
Those two sentences speak to a mentality so bereft of intellectual vigor, so stunningly and candidly shallow, so thoroughly irresponsible, so politically myopic, selfish, and cowardly, that it should disqualify this crew from a second term in office. What a disgrace. Remember this moment the next time Democrats accuse the GOP of being the “do nothing,” intransigent, “party of no.”
In fact, it’s about as perfect a representation of Obama’s economic policy as we’ll see. The budget is full of short-term gimmicks to make it appear that the White House wants to close deficits, but it relies on tax increases and phony savings from projected war spending that wasn’t going to occur anyway to make the claim. They do nothing at all about the structural problems of America’s long term economic issues (especially debt and unfunded liabilities from entitlement programs), but instead focus narrowly on relatively short-term outcomes to disguise the fact that they cannot and/or will not fix the long-term problems. And as Geithner says in this response, while they won’t or can’t provide leadership, they will be happy to torpedo those who can and will http://hotair.com/archives/2012/02/17/geithner-yeah-we-dont-have-a-solution-to-the-debt-problem/
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