Geithner, You Ignorant Slut
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:
Comment
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
"cheeki kea you are spot on. It won't be until the elephant on Wall Street is as high as the…"
"Greetings and welcome to you Gordon it's great to have you join us all here."
"For those trapped in mass formation the ugly truth and all the clues will not be realised until the…"
Dare to Dream/Dare to Build
As we enter the month of Av we intensify our traditional mourning for the Holy Temple, but are we really in touch with what we are mourning for? Are we ready...
"The Chinese sent more than 100 thousand visitors to the US after the failure of the Wuhan lab to…"
© 2026 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network