by Javier Manjarres
With the “fiscal cliff” staring Americans right in the face, it seems as if Obama’s entire administration is ‘blocking and tackling’ for one another as they dodge any and all questions pertaining to the currently stalemated negotiations that could potentially avert an economic calamity.
During a recent interview with NBC’s David Gregory, Treasury Secretary Timothy Geithner put his deceitful rhetoric on tape as he dodged Gregory’s question as to what “pain the Democrats are going to have to be willing to live with,” in order to get a deal done with Republicans-
David Gregory- What is the pain point for Democrats there? What is the pain that Democrats are going to have to be willing to live with, to get the kind of deal that you are driving with Republicans on taxes, when it comes to spending cuts, particularly spending cuts to programs like Medicare?
Timothy Geithner- I think that both sides are going to do things that are difficult for them- uncomfortable them. And the American people have already been asked to adapt to a trillion dollars of spending cuts on defense and non-defense that cover comprehensibly things that touch the lives of many Americans.
If you liked the post, please share it.
3 Responses to “Geithner Dodges Democrat Compromise Question on “Fiscal Cliff””
The dumbest thing Republicans can do is to agree to a tax increase and the cuts to follow up later. This line of crap has been used in the past many times and we are still waiting for the cuts!THEY ARE ALL LIERS!
I can’t figure out why most people are not screaming at the current government spending, regardless of pary affiliation! It is not a matter of how much to raise to get us off of this mess; any additional funds raised WILL NOT be used to pay it off. It will be spent on trash. If you don’t believe me, ask the government to show where all the stimulous money that was paid back went to?! How about all the money we’ve paid into social security, pensions, etc… the government spent it all and replace them with IOU’s!!
Protecting the people from debt and overspending should be our goal.
Remember, this fiscal cliff was only created when Congress failed to create a plan to address the debt crisis.
So, getting back to the most important fiscal problem, we must fix THE DEBT that is both unsustainable and is leading us into DEFAULT and global economic collapse as we continue to borrow. It is clear that, in terms of debt risk, ceilings hikes are never good, in fact, they only raise the risk of default, increase the cost of debt and accelerate the path to inevitable default.
If you understand this distinction, then you must recognize that “unsustainable debt” must be ENDED in order to prevent debt from regrowing after partial reductions in debt are used to “stabilize” it, allowing the use of debt to create the money supply to continue, as is what Tim Geithner considers as his goal. (CNN Crowley interview 12/02/2012) In reality, partial debt reductions are the wrong solution because they cause intolerable austerity conditions in the economy that can be avoided if the proper solutions are applied. Actually, history shows us that Congress has refused to reduce the overall debt, only addressing the rate of its growth. The problem lies in the debt-based monetary system that is corrupt.
The fallacy of Geithner’s stated goal of a “stabilized debt” is that the Fed uses debt to create the money needed for economic growth. More debt is also created by the banks in our economic system. And therefore, more debt is needed both for growth and to pay for the existing debt. There is very little money that has not been created as debt in our economy. So, under this debt-based monetary system promoted by Geithner, debt can never be “stabilized”. Under this monetary system, debt will not stop growing until recession and default occur. And, that is where the risk lies that Congress and the President must now address in order to avoid default and economic collapse.
Therefore, in order to END THE DEBT, we must convert to an interest-free currency and end the use of debt by government. This will allow us to return to a balanced budget in which spending is covered by taxation and NO spending is hidden from taxation. Until this is done, there can be no reduction in the risk of default on our debt and debt will not be “stabilized”. Other solutions simply delay this default problem but risk simply becomes more difficult to manage as debt continues to grow.
And remember, this sovereign debt debate is about the people, not the government. It is about protecting the people from the risks of debt and overspending by government.
The people have NO protection if we continue to allow Congress to use debt to spend without concomitant taxation. Fortunately, debt is not needed to create our money supply this way. Thus, ending the use of debt is not a difficult choice. This choice is the right path to the solution we seek – balancing the budget without slowing economic growth so that full employment is attained.
Only by ending the use of debt can we return to the system established under the constitution in which the people who pay decide the amount of their earnings that can be taken. The present debt-based system has destroyed the spending process in Congress that lenders and spenders now control.
We cannot allow lenders to continue to corrupt this process and take the earned wealth of the people out of our economy. Ending this corruption will put the people back in control of their wealth creation. If we end the distribution of taxes to the lenders, then no thoughts of redistribution need be considered.
To this day I absolutely cannot understand how Obama was re-elected. His brains won’t fit into a thimble. He has no background in finance, real government, foreign policy. All he knows how to do is lie. I’m all for going over the financial cliff. Show the idiotic liberals what a lying wimp they voted in. I’m also for IMPEACHING OBAMA.