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From the Fed Transcripts: MR. LACKER. If I could just follow up on that, Mr. Chairman. CHAIRMAN BERNANKE. Yes, go ahead. MR. LACKER. Vice Chairman Geithner, did you say that they are unaware of what we’re considering or what we might be doing with the discount rate? VICE CHAIRMAN GEITHNER. Yes. MR. LACKER. Vice Chairman Geithner, I spoke with Ken Lewis, President and CEO of Bank of America, this afternoon, and he said that he appreciated what Tim Geithner was arranging by way of changes in the discount facility. So my information is different from that. Oh I see. Reuters...

"That’s the kind of balance you need," said Geithner. "Why is that the case? Because if you don't try to generate more revenues through tax reform, if you don't ask, you know, the most fortunate Americans to bear a slightly larger burden of the privilege of being an American, then you have to -- the only way to achieve fiscal sustainability is through unacceptably deep cuts in benefits for middle class seniors, or unacceptably deep cuts in national security."

Henry Wallace’s Progressive Party of the 1940s was nothing but a tool the Communist Party USA – and by extension, the Soviet Union. Today’s Democratic Party is also heavily infiltrated by the now pro Chinese Communist Party USA and their almost as equally extreme comrades from Democratic Socialists of America. Here’s an interesting picture from the 1940s. Henry Wallace chatting with Chicago journalist and Progressive Party supporter Vernon Jarrett. It turns out that around this time Vernon Jarrett was a leader of the Chicago chapter of American Youth for Democracy – the youth wing of the Communist Party. Chicago communist...

NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy. S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits. U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada

Either he is a pathological liar or he is a clueless dolt.. Which one is it? I am terrified of this administration.

Treasury Secretary Timothy Geithner announced May 16 that the U.S. government has reached its legal debt limit, and that he had to dip into federal pensions to meet the country’s obligations. And if Republicans stick to their demands for major spending cuts, Geithner is going to have to start getting even more creative. It wasn’t supposed to go like this. When Democrats decided to pass on raising the nation’s $14.29 trillion debt limit during the 111th Congress’ lame duck session this December, the game plan for the 112th Congress was simple: scare “responsible” Republicans into voting to raise the debt...

(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...

Federal Borrowing on Pace to Hit Debt Limit in Less Than Week Wednesday, April 20, 2011 By Terence P. Jeffrey (CNSNews.com) - Federal borrowing is on pace to hit the legal limit on the national debt in less than a week. As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $...

WASHINGTON (Reuters) – The Bush administration's "misguided" policies are to blame for huge U.S. budget deficits, Treasury Secretary Timothy Geithner charged on Wednesday as he sought to build an election-year case for ending tax cuts for the wealthiest Americans. With congressional elections looming in November, Geithner sought to regain the high ground on the issue of who bears responsibility for record budget gaps and to counter Republican labeling of Democrats as tax-and-spend, bailout-happy liberals. Geithner said extending the Bush-era tax cuts for top income earners, as Republicans want, would force more borrowing to cover lost revenues and crimp more-effective remedies...

Treasury Secretary Timothy Geithner acknowledged that it is still a "tough economy" for most Americans, and warned it's possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force. When they see a little hope that there may be jobs out there, they start to come back in again. And that can cause the measured unemployment rate to go up — temporarily," Geithner told "Good Morning America's" George Stephanopoulos in an exclusive interview. "But what we expect to see, and I think most forecasters expect this…is an economy...

http://www.youtube.com/watch?v=d1PEdYYv0ig

GREGORY: You just heard Secretary Geithner. What’s your level of confidence in him? MCCAIN: Well, I have some confidence in him. I think he’s very smart. And I hope that this new plan -- which, by the way, I thought was well-described... . . . . . GREGORY: Have Republicans heeded that call, and do you think President Obama has heeded that call? MCCAIN: I think neither side, perhaps, has done it as much as maybe we should. But you establish an environment. Really, bipartisanship is sitting down across a table from each other and negotiating, recognizing there’s got to...

This is a rush transcript from "On the Record ," March 23, 2009. This copy may not be in its final form and may be updated. GRETA VAN SUSTEREN, FOX NEWS HOST: Joining us live is Republican senator Lindsey Graham. Senator Graham, the question was put to President Obama whether or not Secretary Geithner should go. He says no. Should he go or not stay? SEN. LINDSEY GRAHAM (R), SOUTH CAROLINA: Well, I -- it'd be up to the president. Right now, no one's going to go as long as someone doesn't have to pay a price. But if there...