Article

2011-04-11 Economy

Geithner: US to hit debt ceiling in mid-May

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Posted by ryuge 2011-04-11 14:39|| || Front Page|| [6 views ] Top

#1 Thanks for that, Tim. Oh, BTW, mid-April is coming up, you know. Did you fire up that new version of Turbo Tax yet?

Posted by Ebbang Uluque6305 2011-04-11 15:16|| 2011-04-11 15:16|| Front Page Top

#2 Yah, Tim was so desparate to keep his cozy job that he invited 60 Minutes into his Board room, after Obama was elected, to show his new "transparency." Too bad that Tim had repeatedly pronounced on the soundness of the loony-finance/zero oversight practises of Wall Street. I attended a speech where Milton Friedman advocated the replacement of the Fed, with a "computer." Good idea.

Remember when Industrials, Mining, Housing, Agriculture (and sundry foodstuffs) and Transportation ruled the economy, and Financials were the bit players? Glory days.

Posted by Glese Prince of the Veal Cutlets6036 2011-04-11 15:51|| 2011-04-11 15:51|| Front Page Top

#3 But he said once those measures are exhausted the U.S. government would not have enough money to pay its bills. Military salaries, Social Security payments and jobless benefits would cease, he warned, adding that a default on the debt would drive up interest rates, erode home values and cause a new financial crisis.

So he would stop Social Security Payments (which is something people have actually paid into during their lives) And Jobless benefits (what is that? Unemployment? - something else people actually paid into) I guess this is to have something to blame the Republicans for.

And he'll keep welfare, education, EPA, etc... and Abortion Inc (aka Planned Parenthood). All the things the Federal Government has not business doing in the first place. I guess the DNC still has to pay it's voters.

And of course holding the military payroll hostage seems to be the new Treasury Budget Policy nowdays.

Posted by CrazyFool 2011-04-11 16:31|| 2011-04-11 16:31|| Front Page Top

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