This guy doesn't know when to quit:
NEW YORK (AP) -- Treasury Secretary Timothy Geithner said Tuesday that if Republicans insist on passage of their budget plan as a condition for approving an increase in the nation's borrowing limit, they will be responsible for the consequences.
Speaking to a New York audience, Geithner said that Republicans would bear responsibility for the first debt default in the nation's history if they insist they will not vote for an increase in the $14.3 trillion borrowing limit unless they win approval of a House Republican budget plan.
Your administration has known full-well what the debt limit has been for a very long time.  So has CONgress.  Both bodies were well aware that raising the limit is discretionary.
You seem to believe that playing the "Armageddon" card is something that can be done with impunity, mostly because your predecessor Hanky-Panky Paulson did so and Bernanke was a party to that.
The fact of the matter is that you seem to think that there's no limit to the nation's credit card.  You're wrong.
Yes, I know, the bond market hasn't cared (yet) about all this idiocy.  Then again it didn't care over in Greece either, right up until it did.  Same with Iceland, Ireland and Portugal. 
In fact, it seems to work the same way with most personal bankruptcies too.  People think they can push things a bit further, a bit more, they get another credit card, they play the balance-transfer rollover game, they feel the pressure and make some sort of maneuver and then breathe easier.
All this works for a little while, right up until it doesn't in dramatic fashion.  And then, once again, we hear "nobody could have seen it coming."
Continue reading:

Views: 71

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega replied to MAC's discussion This girl can explain Nesara/Gesara the best
"Wow! What a great source of information and history as it really was! I knew all about the Revenue…"
25 minutes ago
Doc Vega favorited MAC's discussion This girl can explain Nesara/Gesara the best
25 minutes ago
Doc Vega posted blog posts
1 hour ago
MAC posted a discussion
12 hours ago
tjdavis posted a video

Watch This Now Because They Don't Want You to See This by Voddie Baucham

The Speaker/pastor Voddie Baucham talks about how we ought to fight this battle for the sake of generations to come - The weapons we fight with are not the w...
14 hours ago
Larry Harmen posted a blog post
16 hours ago
Bud Parker favorited MAC's video
yesterday
Doc Vega posted a blog post

You are Being Watched  and it’s Not Okay!

 With the new roll out of an artificially intelligent facial recognition system that will be…See More
Tuesday
cheeki kea favorited rlionhearted_3's photo
Tuesday
rlionhearted_3 posted photos
Tuesday
cheeki kea replied to MAC's discussion ‘If Europe does not wake up, you will all be dead,’ says Naomi Wolf, author of Facing the Beast
"This is a great interview and well worth watching."
Tuesday
cheeki kea commented on cheeki kea's photo
Thumbnail

meanwhile down under ...

"From what is understood is appears that France is once again antagonising "their" small…"
Tuesday
cheeki kea posted a photo
Tuesday
MAC replied to MAC's discussion ‘If Europe does not wake up, you will all be dead,’ says Naomi Wolf, author of Facing the Beast
"Even a leftest Feminist can see the truth, but not Manny have the gift."
Tuesday
MAC posted discussions
Tuesday
MAC posted videos
Tuesday
MAC replied to MAC's discussion EXPOSED! United Nations has a secret plan to invade America | Redacted w Natali and Clayton Morris
"They wont allow Trump to take the government back. They will all come together and say Biden won,…"
Tuesday
MAC replied to MAC's discussion EXPOSED! United Nations has a secret plan to invade America | Redacted w Natali and Clayton Morris
"They are setting up a full genocide of white people, Notice the infiltrators are only invading…"
Tuesday
MAC replied to MAC's discussion EXPOSED! United Nations has a secret plan to invade America | Redacted w Natali and Clayton Morris
Tuesday
Burbia commented on tjdavis's video
Thumbnail

The Untold Stories Of Your Favorite Musicians | Hired Gun | Full Music Documentary

"I don't recall Chuck Berry being mentioned here. Didn't he travel with his guitar and…"
Tuesday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted