Obama's brownie moment: Geithner to Remain as Treasury Chief

[Cancel 2018. 3]

Geithner to Remain as Treasury Chief

WASHINGTON -- Timothy Geithner will remain on the job as Treasury secretary, the Treasury Department announced Sunday in a written statement.

"Secretary Geithner has let the president know that he plans to stay on in his position at Treasury. He looks forward to the important work ahead on the challenges facing our great country," said Treasury Assistant Secretary for Public Affairs Jenni LeCompte.

In late June, people close to Geithner said he was considering leaving after the debt limit was raised in August. They said he was tired of commuting to New York, where his son will be finishing up his last year in high school.

Geithner is the only remaining top official on Obama's original economics team, and has been facing considerable criticism and calls for his resignation after Standard and Poor's downgraded the U.S. credit rating from AAA to AA+ on Friday evening.

Geithner informed the president of his decision to stay in the Cabinet on Friday morning.

"The president asked Secretary Geithner to stay on at Treasury and welcomes his decision," said White House Press Secretary Jay Carney.

Read more: http://www.foxnews.com/politics/2011/08/07/geithner-to-remain-as-treasury-chief/#ixzz1UO0cx2Fi

 

[Onceler]

Except that brownie was a horse trainer, and Geithner is one of the better economic minds on the Dem side.

Nice try, though. I know you Bushies had a tough time w/ Katrina...

 

[Conservative]

The Tax and Spend Socialist needs his Tax Cheat buddy to raise our taxes again.

 

[Canceled2]

Geithner an expert at avoiding taxes and the penalties of doing so...and he's been reall good at blowing up the economy...Perfect democrat~

 

[Onceler]

Geithner an expert at avoiding taxes and the penalties of doing so...and he's been reall good at blowing up the economy...Perfect democrat~

You sure about that?

Would you like a timeline on the economic crash?

 

[Conservative]

Timmy the Tax Cheater is like most Dems who pay no taxes but get plenty from the Government.

 

[Damocles]

You sure about that?

Would you like a timeline on the economic crash?

I'm thinking she's talking about currently with QE1 and QE2, attempting a QE3, and advising that endless debt is a way to end the downward spiral we're finding at the culmination of the global debt crisis.

 

[Onceler]

I'm thinking she's talking about currently with QE1 and QE2, attempting a QE3, and advising that endless debt is a way to end the downward spiral we're finding at the culmination of the global debt crisis.

The economy "blew up" in 2008. Since, the gov't has been doing what it can to revive it.

 

[Damocles]

The economy "blew up" in 2008. Since, the gov't has been doing what it can to revive it.

Tell me, who owned the congressional purse strings in 2008? Hiring somebody who promotes your ideation in monetary policies doesn't excuse the problems your policy exacerbates.

You cannot solve a global debt crisis with ever increasing infinite debt. It will not work. The past 50 years of continued debt increase (yes even during Clinton;s years the debt increased, not once did it go down) have taken Keynes so far out of context twisted it and replaced it with "overspend all the time" rather than just "overspend on INFRASTRUCTURE" during downturns that it cannot any longer be resolved using his theory. Each step further down that road is increasing the ultimate crisis when it comes to a head. This is going to be ugly, but it is stupid to think that Keynes will get us out now...

We've come to the time when we're finally going to have to pay the piper, and it isn't going to be fun.

 

[Conservative]

Spending Trillions and raising taxes hasn't gotten America a single job.

 

[Onceler]

Tell me, who owned the congressional purse strings in 2008? Hiring somebody who promotes your ideation in monetary policies doesn't excuse the problems your policy exacerbates.

You cannot solve a global debt crisis with ever increasing infinite debt. It will not work and it leads to downgrades.

Do you think that policy has an instantaneous effect on the global economy? If so, can you cite the economic policy of that Congress that caused the crash?

While you're at it....do you know how much the global economy lost last week...in one week?

 

[Damocles]

Do you think that policy has an instantaneous effect on the global economy? If so, can you cite the economic policy of that Congress that caused the crash?

While you're at it....do you know how much the global economy lost last week...in one week?

I believe that it took decades for the problem to come to the point of the first small eruption... And instead of working to release some of that pressure to avoid what will be a larger eruption we've increased it purposefully. Again, you cannot resolve a global debt crisis using an economic theory that assumes you had a sane debt level to begin with. His theory was meant to solve the economic cycles not a crippling global debt crisis.

The White House and Congress have put forward no plan to get us out of the debt crisis, the only one that could possibly do it was cut, cap, and balance. And that is only assuming that the states ratified the BBA. None of their plans reduce debt, not one of them. We've now set this incredible overspending into the baseline with this stupid deal, with an automatic increase of 7% per year. F*#@!

 

[Conservative]

Socialism is crashing the world economy and all Dems want to do is tax and spend some more.

 

[Cancel 2018. 3]

Except that brownie was a horse trainer, and Geithner is one of the better economic minds on the Dem side.

Nice try, though. I know you Bushies had a tough time w/ Katrina...

must defend obama, must defend.

you do realize that your comment makes no difference. both presidents hired men who sucked at their job. i know the truth is hard for you to accept, but maybe someday you will learn.

 

[Cancel 2018. 3]

Socialism is crashing the world economy and all Dems want to do is tax and spend some more.

the problem with such blanketed statement is...both parties are spending and taxing the american people down the drain.

 

[Onceler]

must defend obama, must defend.

you do realize that your comment makes no difference. both presidents hired men who sucked at their job. i know the truth is hard for you to accept, but maybe someday you will learn.

Bush hired someone who was completely unqualified for his job. Obama hired one of the best economic minds on the Dem side.

Now, you can disagree w/ his economic philosophy, but the fact is, he's one of the most qualified for the position. You don't like it, work to replace Obama in '12, and dazzle us w/ the rightie economic "plan."

Like I said before, ODS must be tough to live with.

 

[Canceled2]

You sure about that?

Would you like a timeline on the economic crash?

Let's see we had the dot.com crash of 99 and tax cuts that buoyed us in 2001 and 2002. The problem of course is that congress did not make spending cuts to accompany them...can anyone say "because democrats would not cooperate". Then we had huge war spending- without cuts anywhere else. Oh and let us not forget we had democrat oversight of Fannie and Freddy and no one watching the banks ...

That was then...Now, in comes a president, who has majority control of both houses of his party for 2 years and KABOOM goes the economy~

 

[Damocles]

Bush hired someone who was completely unqualified for his job. Obama hired one of the best economic minds on the Dem side.

Now, you can disagree w/ his economic philosophy, but the fact is, he's one of the most qualified for the position. You don't like it, work to replace Obama in '12, and dazzle us w/ the rightie economic "plan."

Like I said before, ODS must be tough to live with.

Obama Disappointment Syndrome only strikes lefties. And yes, I think it is likely tough to live with. I'd hate to have to defend even worse policy than Bush's.

 

[Bonestorm]

Let's see we had the dot.com crash of 99 and tax cuts that buoyed us in 2001 and 2002. The problem of course is that congress did not make spending cuts to accompany them...can anyone say "because democrats would not cooperate". Then we had huge war spending- without cuts anywhere else. Oh and let us not forget we had democrat oversight of Fannie and Freddy and no one watching the banks ...

That was then...Now, in comes a president, who has majority control of both houses of his party for 2 years and KABOOM goes the economy~

That's precious.

 

[Bonestorm]

I believe that it took decades for the problem to come to the point of the first small eruption... And instead of working to release some of that pressure to avoid what will be a larger eruption we've increased it purposefully. Again, you cannot resolve a global debt crisis using an economic theory that assumes you had a sane debt level to begin with. His theory was meant to solve the economic cycles not a crippling global debt crisis.

The White House and Congress have put forward no plan to get us out of the debt crisis, the only one that could possibly do it was cut, cap, and balance. And that is only assuming that the states ratified the BBA. None of their plans reduce debt, not one of them. We've now set this incredible overspending into the baseline with this stupid deal, with an automatic increase of 7% per year. F*#@!

The root causes of the economic problems in Europe and the United States are not the same thing. Our economy is not suffering from a sovereign debt crisis. It is incredibly cheap for us to borrow money, notwithstanding what S&P says. Pretending our problems and those in Europe are the same just shows that you don't know what in the hell you are talking about. It makes a nice narrative and I bet convinces the rubes (someone set the hook in you pretty damn hard) but it's just not the case.