Obama’s Tax Cheat Treasury Secretary is Either a Fool or Liar

Posted by Mark Noonan in Economy, Government Waste/Fraud/Abuse on February 8th, 2010 at 04:54am with 7 responses.
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How on earth did we get saddled with such a fool at Treasury?

Treasury Secretary Timothy F. Geithner said the U.S. isn’t in danger of losing its AAA debt rating even though the Obama administration has predicted a $1.6 trillion budget deficit in 2010.

“Absolutely not,” Geithner said, when asked in an ABC News interview broadcast yesterday whether a downgrade is a concern. “That will never happen to this country.”

Yes it darn will, you two-bit tax cheat! All you have to do is keep spending more than we take in and its a certainty…and even if your boss is promising “deficit reduction”, all that does – at best – is delay the day of reckoning. Foreigners don’t have to park their money in US securities – heck, they are probably only doing it now out of habit and the only reason we’re not already downgraded from AAA is because no one wants to be the first to declare the United States bankrupt.

We’re broke and this is the economic leadership we have – people who’s only goal must be to keep the ball in the air until their own assets – and the assets of their friends – are safely parked in things which wills survive a second Great Depression.


Mark Noonan is co-author (with Matt Margolis) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at Nevada News and Views. Follow Mark on Twitter.

7 Responses to “Obama’s Tax Cheat Treasury Secretary is Either a Fool or Liar”

  1. sadieannmartin says:
    February 8, 2010 at 6:23 am

    His tax issues aside Mark Geithner is right, the US will never lose its AAA debt rating. Either all the “exceptionalism” talk and the USA is the best in the world talk is true or it isn’t. Had a Demicrat like Barney Frank said the AAA rating was in jeopardy while Bush was in office you would have excoriated him in one of your posts. If the world doesn’t invest with the United States, and bet long term on US success they will go the same route as Iceland or worse they will be the cause of a global depression. It isn’t a matter of not wanting to collapse the US economy Russia would love to do nothing less! I’ll wind up with a quote from Carlton Pryor:

    “It is a fact, and no one must ever forget, that the Eurozone, the Oil States and the Emerging Economies of Brazil, Russia, India and China, a inextricably linked to the value of US debt instruments to maintain the viability of their own economies. Their ability to provide positive trade ratios are only enhanced by their investment in their main goods importer–The United States of America.”

    • Mark Noonan says:
      February 8, 2010 at 8:09 am

      Sadie,

      You poor, deluded lady – The British Pound used to be the world’s reserve currency. Don’t ever think that our currency can’t be toppled from that.

      We are the greatest nation in the world – but even the greatest nations may be brought down.

      • js02 says:
        February 8, 2010 at 8:43 am

        yup, the DNC was infiltrated by the socialists…a commitment made by the communist party as far back as 1930…they would love to undermine our nation and trash freedom and the free market to justify thier conversion of our country to communism…they are really trying and this is why we are in this condition today…

    • carol says:
      February 8, 2010 at 5:44 pm

      Yes if it had been said when President Bush was president we would have excoriated that person. BECAUSE THE DEFICIT WAS ONLY A FRACTION OF WHAT IT IS TODAY UNDER OBAMA. Bush also had a good business climate with consistant growth until the last year. Obama is doing everything he can to make sure businesses do not grow-keeping the economy in a recession.

  2. neocon1 says:
    February 8, 2010 at 10:09 am

    Mark

    they are not fools but the whole regime of 0-chimpy are LIARS!

  3. retiredspook says:
    February 8, 2010 at 12:30 pm

    Here’s another take on the same story.

    The Obama administration is “deeply serious” about deficit reduction, according to Geithner, who endorsed the creation of a bipartisan commission that would be charged with recommending ways to reduce the federal deficit over the long haul.

    Geithner sounded an upbeat note on the U.S. economic outlook, saying “we’re seeing some encouraging signs of healing,” with the economy expanding at nearly 6% in the fourth quarter and the most recent unemployment report, which showed the jobless rate fell modestly.

    “This is going to take awhile and it’s going to be uneven,” Geither cautioned. While the risks of a double-dip recession are much lower than they have been, Geithner said “we have more work to do” to spur job creation.

    The Treasury Secretary disputed remarks by newly elected Sen. Scott Brown (R., Mass.), that the economic stimulus package enacted by Congress last year has failed to create jobs.

    “I don’t think there’s any basis for that judgment,” Geithner said. He called the stimulus measures “very, very effective,” and pointed to improvement in the overall economy, noting: “We have an economy now that’s growing again. With growth, you’re going to see jobs created.” (emphasis added)

    And they say that Geithner is smart.

    The only problem I see going forward is that any administration that is willing to lie about what’s happening, as this one clearly is, will also be willing to manipulate the numbers to avoid their lies being exposed. Fortunately the American people are starting to catch on.

    • Mark Noonan says:
      February 8, 2010 at 7:31 pm

      Indeed, one source I use figures we actually lost about 120,000 jobs in January – they looked in to how many accounts were actually having income taxes with held…either all those people became independent contractors, or they lost their jobs.