Geithner: Why, no, our new budget does nothing to address America’s long-term fiscal crisis

posted at 6:40 pm on February 16, 2012 by Allahpundit

Via Philip Klein, stick with this until at least 2:45, when Ryan drops the national-suicide debt chart on him and TurboTax Tim notes that, hey, the numbers between Obama’s budget and Ryan’s are actually comparable — for the next five years or so. Quoth Klein: “[A]s Ryan pointed out, the Treasury Secretary, more than anybody, should recognize how problematic it would be for bond investors to lose faith in America’s finances. If they stop buying U.S. bonds, a crisis can hit much sooner than a chart would suggest. Furthermore, virtually every budget expert recognizes that the longer the nation waits to do address its problems, the more drastic the possible solutions have to become.”

Don’t you worry, though. Just as soon as this economy’s growing again, the haze of Keynesian deficit spending will lift and The One will transform, butterfly-like, into a warrior on entitlement spending. I can feel it. Until then, I’m off to sit in a dark room and drink myself into a coma.


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“Once is happenstance. Twice is coincidence. Three times, it’s enemy action.” – Auric Goldfinger

Seven Percent Solution on February 16, 2012 at 6:42 PM

This is all Greek to the Downgrade Administration.

Chip on February 16, 2012 at 6:42 PM

Everything is cool for Obama’s re-election.

The real unemployment is 15%.

These Obama people don’t read the same Media Matters memos.

Schadenfreude on February 16, 2012 at 6:42 PM

Quoth Klein: “[A]s Ryan pointed out, the Treasury Secretary, more than anybody, should recognize how problematic it would be for bond investors to lose faith in America’s finances.

The average 18 year old crackhead hooker knows more about the economy than this fraud. Or, maybe it is he who is the actual hooker.

TXUS on February 16, 2012 at 6:47 PM

Have you managed to pay your taxes yet timmy? You could help our fiscal crisis if you and others like you did!
L

letget on February 16, 2012 at 6:47 PM

Until then, I’m off to sit in a dark room and drink myself into a coma.

I guess that means I can check you off my list of liver donors cause mines already pickled.

JPeterman on February 16, 2012 at 6:48 PM

charts are hard.

Tim_CA on February 16, 2012 at 6:50 PM

It just doesn’t balance! He’s still using TURBO TAX!

KOOLAID2 on February 16, 2012 at 6:51 PM

“Address long term fiscal crises? ummm … I have an old version of TurboTax that doesn’t have that feature.” – Little Timmy.

Lost in Jersey on February 16, 2012 at 6:52 PM

” Until then, I’m off to sit in a dark room and drink myself into a coma.”

Right behind ‘ya, big guy…

Seven Percent Solution on February 16, 2012 at 6:52 PM

Until then, I’m off to sit in a dark room and drink myself into a coma.

Is that possible on appletinis or whatever cute little cocktails you drink?

TXUS on February 16, 2012 at 6:52 PM

It just doesn’t balance! He’s still using TURBO TAX!

KOOLAID2 on February 16, 2012 at 6:51 PM

Ha. I type too slowly. You beat me to it.

Lost in Jersey on February 16, 2012 at 6:53 PM

So Geitner admits they don’t have a solution but they don’t like Ryan’s plan. Wow. I’m liking this to facebook.

I want a brokered convention with Paul Ryan as President and Marco Rubio as VP.

magicbeans on February 16, 2012 at 6:54 PM

1. It won’t be reported outside of a few blog sites. 2. If it were, the Americans wouldn’t understand it. 3. The moonbat “reporters” and alphabets will not only not explain it, they will cover for the Pres. 4. There’s going to be a sovereign debt crisis.

kunegetikos on February 16, 2012 at 6:54 PM

Is Turbo Tax Timmy really trying to claim that the Obama budget proposal will level off the debt for the next decade? Seriously? We’ve been adding $1.3 trillion a year since he took office, so how in the hell do they expect to bring that down when all they’ve proposed is gutting the military and raising taxes on “the rich”?

Doughboy on February 16, 2012 at 6:55 PM

TAX CHEAT

txhsmom on February 16, 2012 at 6:58 PM

so how in the hell do they expect to bring that down

uhmmm…. They are lying. They have no intention of bringing it down.

kunegetikos on February 16, 2012 at 7:00 PM

Game over man, game over. Were in some bad s##t man.

PFC Hudson
Aliens

banzaibob on February 16, 2012 at 7:01 PM

Geithner also said that millions of Americans are retiring every day.

Taking the conservative figure of two million per day, that means the entire nation will be retired by Independence Day.

MadisonConservative on February 16, 2012 at 7:01 PM

“It does however address the short term goal of keeping Mr. and Mrs. Obama ensconced in the White House, and every American should be happy about that.”

-Tax Cheat Geithner

Bishop on February 16, 2012 at 7:03 PM

0bama’s plan is working just fine. He is trying to destroy this country and is it ever working. Not looking forward to what is going to happen. I think there will be riots and blood spilled.

Mirimichi on February 16, 2012 at 7:05 PM

“What we do know is, we don’t like yours” and we’ll probably be dead before we’re substantially affected. And, you you’re well aware, we place no real value on the lives of our children.

(Finished it for you, Timmy.)

BKeyser on February 16, 2012 at 7:09 PM

It really was an embarrassing hearing. Paul Ryan had to bite his tongue a number of times.

CoffeeLover on February 16, 2012 at 7:11 PM

Now on a more serious note.

Why would they want to solve the debt problem when they want the economy to fall apart. Americans will have no choice but to flock in droves to the federal government for assistance.

Go ahead and reelect Obama and you can live with Geithner for another four years.

banzaibob on February 16, 2012 at 7:14 PM

“Until then, I’m off to sit in a dark room and drink myself into a coma.”
I’ll drink to that!

ghostwalker1 on February 16, 2012 at 7:18 PM

Allah, better to be drinkin’ than thinkin’ about the wreck these people are making of the country. Thinking about that is like having the hangover without the fun part…

ghostwalker1 on February 16, 2012 at 7:23 PM

I am the Great Timholio! I need t-bills for my debt hole.

Capp on February 16, 2012 at 7:25 PM

Question. Are Obama’s daily speechifying sessions and campaign travel costs factored into the budget? If not, why not? I need to know because I have to pay my fair share for his re-election.

/spit

Key West Reader on February 16, 2012 at 7:25 PM

When I listen to this, I’m reminded of the presidency of James Buchannan. “Crisis coming? (covers ears) nah-nah-nah can’t HEAR you!”

PackerBronco on February 16, 2012 at 7:25 PM

How can we trust the Dems to solve this problem when they are incapable of submtting a damn budget?

PackerBronco on February 16, 2012 at 7:26 PM

What. A. Complete. Tool.

College Prof on February 16, 2012 at 7:28 PM

I am the Great Timholio! I need t-bills for my debt hole.

Capp on February 16, 2012 at 7:25 PM

LOLOL!

Key West Reader on February 16, 2012 at 7:30 PM

Saw the saddest thing ever yesterday at a Wal Mart.

A woman in her 30′s bought little girls clothing and each time the cashier rung something up the woman asked what the total was. Each little tee shirt/short set was around $4.00. Seemed like she only had $20 to spend and ended up having to take some items back to reduce the bill.

She goes to leave and the alarm went off, so here comes security. They opened her purse and turns out she shoplifted toothpaste, shampoo, deodorant and a block of cheese. They took it all out of her purse in front of everyone and then took her to the office.

Welcome to ObamaLand, hope you enjoy your stay.

Key West Reader on February 16, 2012 at 7:35 PM

maf is hard’n stuff

I sure hope retribution is in the cards. This is deliberate.

DanMan on February 16, 2012 at 7:36 PM

Nothing will happen on deficit reduction until next year. This is an election year, and the choices are just too painful. I think that this time next year we will be seeing the introduction of across-the-board tax increases, entitlement overhaul/cutting, and a slashing of the defense budget and other spending. They will have a window of about 10-11 months in 2013 to get this done, and the Bush tax cuts (and the payroll tax cut) all conveniently expire at the end of this year. In the meantime, it will be bread and circuses …

TouchdownBuddha on February 16, 2012 at 7:41 PM

Criminal incompetence…

… pure and simple.

Seven Percent Solution on February 16, 2012 at 7:42 PM

I am the Great Timholio! I need t-bills for my debt hole.

Capp on February 16, 2012 at 7:25 PM

8)

AH_C on February 16, 2012 at 7:43 PM

The absolute kicker for me is the last Geithner phrase “We don’t like yours …”
Having accepted that both TTT’s projection and Ryan’s follow the same trajectory, he then “doesn’t like” Ryan’s solution to flatten the trajectory … but offers NO SOLUTION
Nice one, Tim, what a bozo

Jimbobby on February 16, 2012 at 7:49 PM

Totally there on the coma. free booze will do that to a man. so will all this spending.

wte9 on February 16, 2012 at 7:52 PM

Obozo promised to get the national debt up to +$21 TRILLION by 2021 so we still have a ways to go…….

KMC1 on February 16, 2012 at 7:54 PM

Criminal incompetence…

… pure and simple.

Seven Percent Solution on February 16, 2012 at 7:42 PM

There is no such thing. Criminal malfeasance is what you are looking for.

Key West Reader on February 16, 2012 at 8:03 PM

Until then, I’m off to sit in a dark room and drink myself into a coma.

Well, you’d best be quick about it, since the World Health Org. wants authority to “regulate alcohol at a global level, including:

…enforcing such regulations as a minimum drinking age, zero-tolerance drunken driving, and bans on unlimited drink specials. Abiding by the regulations would be mandatory for the WHO’s 194 member states.

And just whose President’s alley does THAT sound right up?

Drink up, Shriners.

tree hugging sister on February 16, 2012 at 8:56 PM

They’re asking questions of a tax cheat? AND expect HONEST answers?

GarandFan on February 16, 2012 at 8:58 PM

Enemy of the People!

ReformedDeceptiCon on February 16, 2012 at 8:58 PM

I think that this time next year we will be seeing the introduction of across-the-board tax increases, entitlement overhaul/cutting, and a slashing of the defense budget and other spending. They will have a window of about 10-11 months in 2013 to get this done, and the Bush tax cuts (and the payroll tax cut) all conveniently expire at the end of this year. In the meantime, it will be bread and circuses …

TouchdownBuddha on February 16, 2012 at 7:41 PM

There may be talk and blather but nothing will get done. Nothing will get done until a major collapse because that’s just not how the entitlement state works.

PackerBronco on February 16, 2012 at 8:59 PM

Why would they want to solve the debt problem when they want the economy to fall apart. Americans will have no choice but to flock in droves to the federal government for assistance.

……………..

banzaibob on February 16, 2012 at 7:14 PM

bob,

There will be lots of Americans (95% of them will be conservatives) who will be self sufficient, have water, food and shelter, who will be waiting the collapse out, and not taking a dime from the federal govt. They will also have the vast majority of the weapons, ammo, and prepared defensive positions necessary to keep the riots, freeloaders, and thugs at bay…..

There will be blood. Lots of blood. But it won’t be conservatives losing theirs in the largest margins. Liberals will starve, be beaten, robbed, and killed in droves because they are easy prey and because we won’t be victims to their thuggishness. The American Civil War, or the War of Northern Aggression as my Great Aunt called it, will no longer be the unpleasantness which caused the largest number of American casualties in history….

…. And it will all be because Barack Obama and his filthy Dhimmicrat minions in Congress thought their sh*t don’t stink, and that they knew more economics and fiscal trickery than we conservatives do. And they will be wrong…. right before they are dead of thuggery, starvation, and just plain good old boy vengeance.

Not a threat. But a prediction I feel confident in future occurrence. You folks need to buy ammo, fill sandbags, stockpile food and water, and then pray for the personal strength to do what is necessary to defend yourselves…. against ALL enemies, foreign AND domestic.

Subsunk

Subsunk on February 16, 2012 at 10:06 PM

We are toast…
Ineptocracy (in-ep-toc’-ra-cy)
– a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

vulcannomad on February 16, 2012 at 11:03 PM

charts are hard.

Tim_CA on February 16, 2012 at 6:50 PM

Timmy to Ryan: “But the chart looked better when I was bending over and looked at it between my legs.”

askwhatif on February 17, 2012 at 10:37 AM

It really was an embarrassing hearing. Paul Ryan had to bite his tongue a number of times.

CoffeeLover on February 16, 2012 at 7:11 PM

yup, just keep biting your tongues you ‘Pubs, that will help us out./

I say, let it all out, this is for the big prize (our lives)! Go postal d@mn it!!

askwhatif on February 17, 2012 at 10:44 AM

Was talking to a co-worker just today. No clue, no clue at all what’s happening to the country.
8(

askwhatif on February 17, 2012 at 10:45 AM

Can he please be forced to wear a dunce hat while testifying?
-

Was talking to a co-worker just today. No clue, no clue at all what’s happening to the country.
8(

askwhatif on February 17, 2012 at 10:45 AM

-
Even the ones with a piece of paper that says they know something can be totally clueless… Very scary and sad.
-

RalphyBoy on February 17, 2012 at 2:07 PM