Wednesday, April 04, 2012

It's Official, Geithner Is Batty

Wanna hear the latest economic wisdom from the guy who said that the Obama administration doesn't have a fiscal rescue plan, but they know they don't like the Republicans' plan? Of course you do.

Take it away TurboTax Timmy:
"There is no economic or financial case for using the fear of future deficits to cut as deeply into core functions of the government, to weaken the safety net or fundamentally alter Medicare benefits as do the Republican proposals," Geithner said."
Read it again and understand that this statement comes after three years of $1.3 trillion deficits, which has become the standard Obama run rate. Boiled down to its essence TTT is saying there is no economic or financial logic against spending more money than you have. TTT is saying that a Greece can't happen. Who in their right mind would buy a US Treasury bill after hearing that?


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