Great news: Geithner can’t count, either

posted at 12:17 pm on April 1, 2009 by Ed Morrissey

Maybe Tim Geithner didn’t commit tax evasion after all.  Instead, he may just have a problem doing addition and subtraction.  Earlier this week, Geithner assured people that the Treasury had $135 billion left in its TARP fund on ABC’s This Week:

ABC, though, thought that sounded wrong — and they were right. As George Stephanopolous reports, the tax-fumbling Treasury Secretary was just a little off:

On “This Week” Sunday, Treasury Secretary Tim Geithner told me that there was about $135 billion left in the TARP fund, the government’s financial rescue package. But the Government Accountability Office, a non-partisan federal agency, reports that figure is closer to $32 billion, which is what ABC News and other independent analysts thought.

In other words, Geithner was off by $100 billion dollars. That’s not a rounding error; it’s a gargantuan mistake. Or a lie. Take your pick. It’s like choosing between “tax evasion” and “simple misunderstanding”.

Treasury continues to insist that Geithner had it right. The GAO, they say, are double-counting commitments and “underestimating potential paybacks.” Potential paybacks? That sounds as though the money has already departed, and they’re counting on some of it floating back into the fund. That would make the GAO more likely to be correct, and Geithner more likely to be either wrong or lying.

It has become very obvious that the Obama administration and its Treasury Secretary are floundering on the economy. Not only have they not been able to find staffing for the effort, now they can’t count. How much longer will this go on before Congress demands a change at the top?


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If Timmy “The ‘tard” Geithner is going to continue juggling hundreds of billions of dollars, someone had better teach him to count without using his fingers.

I claim the Leno/Obastard waiver for insulting the mentally handicapped.

George Orwell on April 1, 2009 at 1:21 PM

Timmy needs to stop by “Borders.” I think they have a copy of “The Idiots Guide to Running the Treasury.”

Star20 on April 1, 2009 at 1:22 PM

Loxodonta on April 1, 2009 at 1:20 PM

YOU, are an honorary magnificent bastard for that piclink.

Bless you.

Now back to the thread. I’ve got over $10k of Schedule C income for 2008. You think I should pull a Timmy and …just…sort ..of .. forget out SS and Medicare on it?

Hmmm.

Sapwolf on April 1, 2009 at 1:24 PM

It’s not that ABC reported it, it’s how they reported it.
Remember: Republicans off by $5.00, hammer them incessantly until they bleed.
Democrats off by $100 billion, report it and then let it die.

SKYFOX on April 1, 2009 at 1:27 PM

And yet this total moron is poised to be in position to hire or fire captains of industry at will, cap their salaries and, if necessary, take over or dissolve their corporations.

MaiDee on April 1, 2009 at 1:28 PM

WOW. Another reason 4 years of High School math & economics should be required to graduate.

Badger40 on April 1, 2009 at 1:29 PM

Along with sending tea bags to congress we should put in a caluculator so they can figureout the numbers more efficiently… Or maybe they need to use a abacus.

petunia on April 1, 2009 at 1:29 PM

SKYFOX on April 1, 2009 at 1:27 PM

Excellent point.
And will the American public ever take notice?
I fear not.

Badger40 on April 1, 2009 at 1:30 PM

I would say the man lied. the dwarf, Timmy, doesn’t know any better. I’d like to here it from his parents as to whether this troll has a problem with telling the truth.

larvcom on April 1, 2009 at 1:31 PM

petunia on April 1, 2009 at 1:29 PM

I personally would rather send Congress piles of my surplus cow $hit, in response to the $hit they are shoving down our throats ever since they got their ‘power’.
Maybe the point would be remembered then. I know I would sit up & take notice if someone sent me a box full of $hit.

Badger40 on April 1, 2009 at 1:32 PM

Geez, give him a break. So he’s not a numbers guy!

Jim Treacher on April 1, 2009 at 1:34 PM

“Floundering on the economy” would seem to indicate unsuccessful attempts at correction. These guys are just plain incompetent.

GarandFan on April 1, 2009 at 1:37 PM

The Sarah wave is a result of the Con-flicker virus. Resistance is futile. Your CPU is ours.

Limerick on April 1, 2009 at 12:44 PM

If that’s an infection, I DON’T WANT A CURE!!! :)

dominigan on April 1, 2009 at 1:39 PM

$100,000,000,000 here, $100,000,000,000 there, and pretty soon your talking about real money.

peski on April 1, 2009 at 1:41 PM

LOL-I bet PopTech is going batsh*t nuts.

More than he already is, I mean.

-Dave

Dave R. on April 1, 2009 at 12:38 PM

He’s been rolling on the floor, LOL’ing (or L’ingOL?) so much, he’s worn away the carpet.

BlueCollarAstronaut on April 1, 2009 at 1:42 PM

All your Palin are belong to us.

Johnson on April 1, 2009 at 1:42 PM

I think this explains Timmy’s staffing problems. He thought there were 100 Billion (and 1) people working in the Treasury. He’s been busy trying to figure out how to fire most of his staff.

BlueCollarAstronaut on April 1, 2009 at 1:46 PM

Badger40 on April 1, 2009 at 1:32 PM

ROFL!

Last year, I could have sent in some grade-A steer crap. As it is, this year I can only get horse crap. The idea is VERY tempting… especially since my wife cleans stalls at the stables to help pay board…

How much do you want? She usually gets around two bushel baskets out of each stall… times nine stalls… 18 bushels every other day. (Wow… and I’m not even a Treasury Secretary!)

dominigan on April 1, 2009 at 1:46 PM

Must be the new software program that Timmy installed…. TurboTreasury.

Pianobuff on April 1, 2009 at 2:05 PM

dominigan on April 1, 2009 at 1:46 PM

I feel bad for your horses, & you, for having to ‘board’ them.
This is alien to me as my horses just run with the cows out in the pasture.
I’m really not certain what a bushel of $hit looks like.
But I do have a ‘mountain’ of shit by our round pen that measures approx 12 feet high and about 20 feet in diameter.
I would love to send this to Congress. Along with the liquid cow $hit my neighbor is ‘fermenting’ in his feed lot.
Mmmmmmmmmmmm………..

Badger40 on April 1, 2009 at 2:13 PM

Where’s getaclue to tell us: Don’t worry!!

BigWyo on April 1, 2009 at 2:16 PM

How much longer will this go on before Congress demands a change at the top?

About 3 year 10 months (or 4 years 3 months if you count taking office), at which time Geithner will ‘request’ a return to quasi-private life.

JDPerren on April 1, 2009 at 3:49 PM

It’s time to bailout America. Clearly the filthy liar and his team are unable to meet the challenges of this economy. Let the impeachment talk begin.

highhopes on April 1, 2009 at 4:37 PM

Geithner and Obama compliment each other well. Neither seems to know what he is doing. If you want to make changes at the top they both need to go (and the sooner the better).

duff65 on April 1, 2009 at 4:46 PM

Treasury continues to insist that Geithner had it right. The GAO, they say, are double-counting commitments and “underestimating potential paybacks.” Potential paybacks? That sounds as though the money has already departed, and they’re counting on some of it floating back into the fund.

Is he referring to the banks who are fed up and want to return the TARP funds they were essentially forced to take?

Buy Danish on April 1, 2009 at 5:01 PM

I love it. For April Fools put a picture of the biggest GOP fool below all of the headlines.

You betcha!

capitulus on April 1, 2009 at 5:24 PM

It’s time to bailout America. Clearly the filthy liar and his team are unable to meet the challenges of this economy. Let the impeachment talk begin.

highhopes on April 1, 2009 at 4:37 PM

No one has ever been able to remove a fascist leader without violence before. If we can manage it in America, it will be a global first.

Even if we manage to avoid the militaristic, thuggish aspects of fascism (by no means certain, with the recent example of the AIG “bus tours” in mind) it’s an extremely difficult system to reform from within. The unique combination of absolute state power and a nominal “private sector” gives the fascist leader a great deal of flexibility for avoiding blame. We’ve already seen this in the AIG debacle, in which the people who wrote the legislation dishing out those bonuses managed to completely avoid blame, but the AIG employees were actually forced to surrender their earnings under threat of violence. Before that, we caught Barney Frank standing over the blood-soaked corpse of the mortgage industry with a bloody knife in his hand, and he came off smelling like a rose – he got more power as a result.

Obama didn’t invent American-style fascism. It developed over a long period of increasingly powerful central government, and increasingly government-dependant “private” industries, and its birth was midwifed by George Bush. Obama is, however, the first openly fascist leader of the United States – the first one to simply and directly claim state supremacy over private industries, with his minion Geithner floating the idea that he has absolute power over almost all private industries, if he should choose to exercise it.

An electorate broadly willing to accept this kind of state control over industry will never be allowed to blame the state for its failures, and the state will never accept such blame. Has any liberal ever acknowledged that a single major government program, all the way back to the New Deal, was a failure? You can rest assured that anything negative that happens in the economy from now through 2010 will be blamed on the “free market” and the executives now serving as Obama’s vassals, and any attempt the free market makes to defend itself will be shouted down by angry mobs.

It’s probably not a game Obama can play forever – at some point, the middle class will feel the pinch in an undeniable sense, and will grow tired of having everything blamed on invisible “fat cats,” especially when they’ve been told the all-knowing Obama Administration is in charge of everything. Victory requires the state to play the game until it is effectively impossible for an aroused middle class to vote them out of office.

We’re pretty close to that situation now. The electoral system has degraded to the point where a Senate seat was simply, openly stolen in Minnesota, and our next elections will be based on a census that has been, shall we say, “enhanced” by ACORN. The ruling party has used immigration to mold an electorate very much to their tastes. The Republicans are likely to run into fundraising trouble in 2010, as big business is told that donating money to anyone but the ruling Party is likely to get them on Obama’s hit list. The dependency class will receive billions in new programs, and will never even consider voting for any politician that talks about reducing those programs. Much of the lazy “moderate” vote will be willing to believe that voting against Democrats in 2010 will be a dangerous “rocking of the boat” and jeopardize the entitlements lined up for them.

By themselves, none of these things is enough to guarantee the Democrats power, but all together, they create a difficult landscape for the opposition, no matter how bad things get. And even if the Republicans gain seats in 2010, or the presidency in 2012, the monstrous state machine erected by Obama in these short months will be very difficult to dismantle, no matter how badly it performs. Even at the height of a booming market, and with the charismatic leadership of Ronald Reagan, how many bloated an inefficient state operations were privatized? How much harder will it be to pry industries from the claws of the state in a recession or depression? In fact, fascism is usually harder to get rid of when it performs badly – its true believers dig in hard, and as we have seen, they are not terribly concerned with fair play or constitutional proscriptions, and not unwilling to consider violence even in “enlightened” America.

Doctor Zero on April 1, 2009 at 5:26 PM

ROFLMAO! Palin all day baby!!!!

Poptech on April 1, 2009 at 5:26 PM

Gobbledygook!

davo on April 1, 2009 at 5:48 PM

what the hell, what is a hundred billion more or less?

sheesh.

Terrye on April 1, 2009 at 5:56 PM

So what’s up – there are around 10 pics of Palin on hotair today? WTF?

Oh right – it is April 1!

Freelunch on April 1, 2009 at 6:01 PM

So what’s up – there are around 10 pics of Palin on hotair today?

Oh right – it is April 1!

Freelunch on April 1, 2009 at 6:06 PM

ROFLMAO! Palin all day baby!!!!

Poptech on April 1, 2009 at 5:26 PM

PopTurd – ever have a post without ROFLMAO? If your IQ was about 75 points higher, you’ld have some inkling of what a frickin’ loser you are.

By the way, happy birthday!

bw222 on April 1, 2009 at 6:14 PM

Ed,

The picture of Palin joke is old, not that it was ever funny to begin with.

Sometimes your off-kilter sense of humor makes me wonder about you.

scharlesc on April 1, 2009 at 6:37 PM

So what’s up – there are around 10 pics of Palin on hotair today?

Oh right – it is April 1!

Freelunch on April 1, 2009 at 6:06 PM

Pictures of a Fool for April Fools.

*wink*

capitulus on April 1, 2009 at 7:37 PM

Keep up the Palin pics, I’m sure it keeps the Trolls panties properly in a wad, what a way to go through life, sheeeeesh…

M-14 2go on April 1, 2009 at 7:49 PM

This is so far wrong, that getalife has no comment?
holy shit!

100 Billion!
First day I havn’t heard the word “Trillion”

UNREPENTANT CONSERVATIVE CAPITOLIST on April 1, 2009 at 8:05 PM

I love it. For April Fools put a picture of the biggest GOP fool below all of the headlines.

You betcha!

capitulus on April 1, 2009 at 5:24 PM

WOW!! Is that you capituless in all those pics? Who do you know?

clinker46 on April 1, 2009 at 8:16 PM

I think I’ve figured out Geithner’s problem.

The taxes… not being able to subtract… it’s NOT HIS FAULT!

He’s using one of the original Pentium computers that had some problems with math.

malclave on April 1, 2009 at 9:48 PM

This man is an idiot and is embarassing Obama. DON’T GO TO COLLEGE, BOYS AND GIRLS! God help us!

apco on April 1, 2009 at 10:36 PM

man,a full Palin portfolio. Whats the deal?

johnnyU on April 1, 2009 at 10:56 PM

Oh this guy is such a freakin swindler. He has the face of a swindler and a cheat. Thats from years of doing it. Crooks running the show and America is broker than broke.
What if we need to fund a huge war to survive? hmmm? All that money and our military isnt any the better. All of our homes could have been paid for. All of America could have been out of debt. We’re sunk. C’mon China. Come get us.

johnnyU on April 1, 2009 at 10:59 PM

In other words, Geithner was off by $100 billion dollars. That’s not a rounding error; it’s a gargantuan mistake. Or a lie. Take your pick.

What difference does it make. Obama has got the printing press.

Johan Klaus on April 2, 2009 at 12:00 AM

And they said no one else was as smart as this guy….He just had to be Secretary of Treasury.

Herb on April 2, 2009 at 11:16 AM

It has become very obvious that the Obama administration and its Treasury Secretary are floundering on the economy. Not only have they not been able to find staffing for the effort, now they can’t count.

Rephrase: It has become very obvious that the Obama administration and its Treasury Secretary and Congress are floundering on the economy.

How much longer will this go on before Congress demands a change at the top?

They have to be able to discern a problem. So far, he is very very useful in taking the spotlight off them

Peas in a pod

entagor on April 2, 2009 at 1:44 PM

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