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.
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