Rubio to Geithner: The real crisis, is not admitting there’s a crisis

posted at 11:21 am on May 18, 2012 by Erika Johnsen

On Tuesday, Speaker of the House John Boehner effectively threw down the debt-ceiling gauntlet, letting it be known that any increase in the federal government’s borrowing limit will have to be accompanied by spending cuts and reforms of greater value. Democrats were immediately up in arms, decrying the GOP’s ‘brinkmanship drama,’ ‘partisan agenda,’ ‘irresponsibility,’ blah blah blah. On the Senate floor, Majority Leader Harry Reid lamented that ‘Republican obstructionism is a truth almost universally acknowledged,’ or something. The WaPo editors summed up Democrats’ feelings on the matter pretty well:

It’s not often that a senior political figure announces an intention to behave irresponsibly and risk inflicting great harm on the U.S. economy. It’s even rarer that the politician, having already behaved irresponsibly and inflicted harm on the U.S. economy, announces his intention to do so again. …

“Yes, allowing America to default would be irresponsible,” Mr. Boehner said. “But it would be more irresponsible to raise the debt ceiling without taking dramatic steps to reduce spending and reform the budget process.” Actually, no. It would be more irresponsible to risk — again — the United States’ credit rating.

…Then came last summer’s debacle. The country moved closer to the edge of default than anyone had thought imaginable. The U.S. credit rating was downgraded for the first time in history, and the resulting uncertainty and lack of confidence dragged down the economy. …

So it is appalling that Mr. Boehner would be willing to repeat this dangerous episode, this time at potentially even greater risk. The Treasury is on target to hit the debt limit by early next year. …Treasury Secretary Timothy F. Geithner warned that another round of brinkmanship would be irresponsible and expressed hope that Congress will act without “the drama and the pain and the damage they caused the country last July.”

Oh hey, here’s Secretary Geithner now:

Because look at how much damage it caused the country last August. I mean, it was terribly damaging for the country. And the idea you can govern effectively at this time in American history — you know, we’re fighting wars. We’ve got a major financial crisis in Europe. We have all of these challenges for the rest of the country with political politicians threatening to default if we don’t adopt a partisan political agenda. It’s deeply irresponsible. There’s no basis for it.

Wow. Want to know what else is “deeply irresponsible” and inflicts severe “economic damage”? Spending a trillion more dollars than we collect in a single year, racking up a more than 100 percent debt-to-GDP ratio, and showing zero political will to do anything even approaching balancing the budget (or, you know, just passing a budget). The Democrats are hyping this up like it’s all just some big political stunt without real material meaning, instead of sending us down a road of crippling debt and economic stagnation for generations to come. It takes two to tango, but of course, Republicans are the irresponsible ones for wanting to address why our credit status is even an issue.

I can’t express my incredulity, however, nearly as eloquently as this man probably can in his sleep — take us out, Sen. Rubio:


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Nice screen shot of Rubio.

Try again Erika.

portlandon on May 18, 2012 at 11:24 AM

On Tuesday, Speaker of the House John Boehner effectively threw down the debt-ceiling gauntlet, letting it be known that any increase in the federal government’s borrowing limit will have to be accompanied by spending cuts and reforms of greater value.

…that’s happened a few times already…we ended up picking up the gauntlet and crying that “It was the best that we could do!”…will it be different this time?

KOOLAID2 on May 18, 2012 at 11:28 AM

So objecting to raising the debt ceiling without matching spending cuts is irresponsible, but spending a trillion dollars more than you have in a single year is responsible?

I never cease to be amazed at the willingness of Democrats like Reid to ignore reality while pontificating self -righteously and prancing about in the Emperor’s New Clothes.

Even more amazing is the willingness of so many folks to accept the naked lies.

novaculus on May 18, 2012 at 11:32 AM

ALL IS WELL! ALL IS WELL!

BRunner on May 18, 2012 at 11:32 AM

…why do I have an urge to B!tch Slap Timmy Turbo Tax Geithner???
…I’ve never slapped anybody in my life!…Why?

KOOLAID2 on May 18, 2012 at 11:32 AM

…will it be different this time?

Nope, same dog, same trick. Boehner as speaker is teh flail.

cajun carrot on May 18, 2012 at 11:35 AM

Rubio, deserves an academy award for his drama queen BS.

We want actions not you campaign BS Marco. I’m over you!

Your flowery speeches are just as much BS as Dumb-Ø’s.

We Floridians were warned you were corrupt. We were just too enthusiastic about getting rid of Orange Charlie.

How’s that GOPe workin’ out for ya?

Jayrae on May 18, 2012 at 11:39 AM

Jayrae on May 18, 2012 at 11:39 AM

lol wut?

cajun carrot on May 18, 2012 at 11:41 AM

you know, we’re fighting wars.

Didn’t Timmy get the memo? Obama ended the war in Iraq, there is only one war on going right now.

parke on May 18, 2012 at 11:41 AM

‘Republican obstructionism is a truth almost universally acknowledged,’

Acknowledged only by Kool Aid drinking lemmings. Funny, coming from the guy who hasn’t passed a budget in almost 3 years. The senile old fool probably believes that no one can see all the red ink.

GarandFan on May 18, 2012 at 11:44 AM

Photo of the Day: Stupid, Ignorant, Smelly…And Geographically-Challenged

http://predicthistunpredictpast.blogspot.com/2012/05/photo-of-day-stupid-ignorant-smellyand.html

Resist We Much on May 18, 2012 at 11:45 AM

Jayrae on May 18, 2012 at 11:39 AM

Deflect much?

I’m guessing you aren’t even a citizen of my fine state.

ProfShadow on May 18, 2012 at 11:50 AM

We are Greece without the columns. Oh wait.

LetsBfrank on May 18, 2012 at 11:51 AM

“It’s not often that a senior political figure announces an intention to behave irresponsibly and risk inflicting great harm on the U.S. economy.”

Not often, except in the cases where Harry Reid repeatedly stated it was not his intention to introduce a budget vote into Senate business. I don’t seem to recall any kind of outrage from the compost about this bit or irresponsibility on the part of the senate leader.

Funny- it is almost as if there is a bit of bias in favor of democrats in the Washington Post’s “reporting”.

GrassMudHorsey on May 18, 2012 at 11:51 AM

We Floridians were warned you were corrupt. We were just too enthusiastic about getting rid of Orange Charlie.

How’s that GOPe workin’ out for ya?

Jayrae on

What are you smokin’ What corruption? What action do you want him to do as a junior senator?

major dad on May 18, 2012 at 11:52 AM

Jayrae on May 18, 2012 at 11:39 AM

…drugs?…closed head injury?…or senility?
…you’re not just dumb are ya? There has to be an explanation!

KOOLAID2 on May 18, 2012 at 11:59 AM

Jayrae on May 18, 2012 at 11:39 AM

I hope you gave somebody your keys.

peski on May 18, 2012 at 12:08 PM

We Floridians were warned you were corrupt. We were just too enthusiastic about getting rid of Orange Charlie.

How’s that GOPe workin’ out for ya?

Jayrae on May 18, 2012 at 11:39 AM

The Dr. will be in at 1pm.

hillsoftx on May 18, 2012 at 12:18 PM

Boehner and the GOP should say we will put together a proposal to increase the debt ceiling, but will not go any further until the Democrats put their proposal on paper. Everytime the issue is raised, the GOP can basically say, “have you seen the proposal?” That should stop everyone in their tracks from partisan bickering. If the media chooses to “adopt” the Obama budget, the GOP can inform people of his latest budget that lost 0-414 in the House and 0-99 in the Senate. It’s not a real plan, just talking points that will bankrupt our nation.

djaymick on May 18, 2012 at 12:25 PM

So objecting to raising the debt ceiling without matching spending cuts is irresponsible, but spending a trillion dollars more than you have in a single year is responsible?

I never cease to be amazed at the willingness of Democrats like Reid to ignore reality while pontificating self -righteously and prancing about in the Emperor’s New Clothes.

Even more amazing is the willingness of so many folks to accept the naked lies.

novaculus on May 18, 2012 at 11:32 AM

You’re only hearing one side of the story.

And Boehner is simply playing the role expected of him by the Tea Party. These kind of dramatic overtures hardly resolve our nation’s problems and there’s no reason to subject the nation’s still delicate economy to this kind of turbulence.

Both parties have agreed on a format for addressing the deficit- a supercomittee composed of Dems and Republicans. In fact, if the special committee fails to define a path to reduced spending, then an automatic set of discretionary cuts, defense cuts, and higher taxes kick in at the end of the year.
http://www.realclearpolitics.com/articles/2011/11/22/as_deficit_panel_fails_obama_vows_to_keep_mandatory_cuts_112153.html

The reason that the parties have failed to agree to a combination of higher revenue and spending cuts is the toxic environment in Washington.

bayam on May 18, 2012 at 12:34 PM

bayam on May 18, 2012 at 12:34 PM

You’re only hearing one side of the story.

Nonsense. In any case, you couldn’t possibly know.

The reason that the parties have failed to agree to a combination of higher revenue and spending cuts is the toxic environment in Washington.

More nonsense. Toxic environment? Well, what is making the environment toxic?

A majority of the people in this country, and a super-majority of Republicans, believe that we are Taxed Enough Already and are opposed to higher taxation, even if you call it “higher revenue”. They understand the problem isn’t that taxes are too low, the problem is that spending is too high. Democrats simply will not agree to stop spending money we don’t have. Republicans are beginning to understand they will be replaced if they don’t do everything in their power to stop them.

Democrats won’t let the gravy train be derailed willingly. Their grubby little fingers will have to be pried from the throttle. The “environment” will continue to be “toxic” until then.

novaculus on May 18, 2012 at 12:54 PM

Go Rubio. Great interview, and way to stay on message. I’d love to see this guy as VP, and not because he is Hispanic. The Democrats would absolutely die to have someone as half as articulate, intelligent and telegenic as Rubio.

Jayrae–concern trolling much?

smellthecoffee on May 18, 2012 at 1:07 PM

A majority of the people in this country, and a super-majority of Republicans, believe that we are Taxed Enough Already and are opposed to higher taxation, even if you call it “higher revenue”. They understand the problem isn’t that taxes are too low, the problem is that spending is too high.

First, you are not a victim of high taxes. The greatest generation paid far higher tax rates and built a great country by investing in world class highways, universities, and schools. Today, our tax rates are low- and some would argue too low- by historical standards.

http://www.businessinsider.com/history-of-tax-rates
http://www.businessinsider.com/gundlach-presentation-dollars-cents-2011-9#-8

Alan Simpson and other Republicans experts on the deficit disagree with you. It’s the growth of entitlement spending as the baby boom generation retires that’s the core problem. It can’t be resolved simply through discretionary spending cuts.

Democrats won’t let the gravy train be derailed willingly. Their grubby little fingers will have to be pried from the throttle.

Last time I checked, the federal budget increased by 40% during Bush’s first six years when the GOP controlled both the White House and Congress.

I’m all for a higher retirement age, means testing entitlement spending, and cutting benefits to government retirees.

bayam on May 18, 2012 at 1:08 PM

A pox on these Democrats and their complicit toadies in the media. How dare they make this about Republican obstructionism? How dare Obama demand more money and petulantly stamp his imperial foot over spending cuts when he and Congress have shown time and time again that they are the last people who should get one penny more until they can prove that they know how to spend it and spend it wisely (a characteristic I have little if any hope they will develop).

natasha333 on May 18, 2012 at 1:21 PM

Just watch. The weeper of the house will cave again….. start crying and show the world how incompetent he is. Only the TEA Party can save us now. If at all.

ultracon on May 18, 2012 at 1:24 PM

go away marco rubio. . . just go away!

NOMITTNOBAMA 2012!

Pragmatic on May 18, 2012 at 2:11 PM

The reason that the parties have failed to agree to a combination of higher revenue and spending cuts is the toxic environment in Washington.

bayam on May 18, 2012 at 12:34 PM

No, the reason that there is no agreement is that the Democrats will not agree to any actual spending cuts. We don’t have a problem that revenue is too low. The problem is spending is too high. Obama will not address it. Reid will not address it. We have gone over 3 years without a budget, spending more than a trillion dollars a year that we don’t have with only modest attempts by the Republicans to address the real issues and flat denial of the need to address spending cuts on the part of essentially every Democrat. And the complicit media doesn’t call them on it.

What are they going to do when China refuses to lend us more money? Where will they get the money to send out Social Security checks? Where will they get the money to pay for Medicare services?
Refusal to address needed reforms will end Social Security and Medicare as we know it, not something like the Ryan plan. The Democrats and the media need to start being honest about this fact.

talkingpoints on May 18, 2012 at 2:31 PM

The reason that the parties have failed to agree to a combination of higher revenue tax increases [let's not mince words here] and spending cuts is the toxic environment in Washington.

bayam on May 18, 2012 at 12:34 PM

You are about 30 years late with your argument. The Republicans have played this game before. … and like the WKRP hapless salesman Herb Tarlek, after about the 100′th time, they are getting smart.

Legislative year: Current
Democrats: “Absolutely! We have to cut spending! But we also need to increase taxes in a balanced approach. So we have this bill that cuts spending in FY[Now + 3] and increases taxes beginning FY[next year]. See, we are compromising! We are cutting spending, so you have to compromise also and raise taxes.”

Republicans: “Duuuh. Sure, we need to be bi-partisan, we’ll go along with that”

Legislative year: Next year
Taxes go up

Legislative year: FY[now + 3]
Republicans: “Where are our agreed to spending cuts?”

Democrats: “You heartless ba$ster$d$! How can you think of cutting those programs?! Think of all the women, minorities, children, [and democrat voters] who will be hurt! Not in this economy! Not now!”

Media: “Heartless Republicans in Washington are calling for cuts that will hurt women, minorities, children, [and democrat voters]. Details at 11!”

Repbulicans: “Duuuh, OK, I guess we see your point.

This has happened under Reagan; it was the source for the defeat of Bush I. Bush II resisted. It’s on steroids with Obama and hopefully the Republicans have learned the painful lessons of the past.

AZfederalist on May 18, 2012 at 3:11 PM

No, the reason that there is no agreement is that the Democrats will not agree to any actual spending cuts. We don’t have a problem that revenue is too low. The problem is spending is too high.

You need to stop parroting Glenn Beck. You are not a tax victim. Anyone can look at the charts and see that taxes are at historic lows.

Boehner had Obama committed to entitlement spending cuts until the Tea Party killed his “grand bargain”. Neither party can completely dictate this nation’s legislative path. The far right needs to listen to Orrin Hatch and Olympia Snowe and learn to accept the fact that we live in a democracy.

bayam on May 18, 2012 at 3:22 PM

You need to stop parroting Glenn Beck. You are not a tax victim. Anyone can look at the charts and see that taxes are at historic lows.

Boehner had Obama committed to entitlement spending cuts until the Tea Party killed his “grand bargain”. Neither party can completely dictate this nation’s legislative path. The far right needs to listen to Orrin Hatch and Olympia Snowe and learn to accept the fact that we live in a democracy.

bayam on May 18, 2012 at 3:22 PM

Do even you believe 1/2 the BS you write?

Taxes at historic lows? Really? Please link to cites of those “charts”. “at historic lows” relative to what? Are you trying to say tax revenues or tax rates?

The Tea Party killed the grand bargain? Yeah, sure because everyone knows that Boehner listens to the Tea Party. In Boehnor’s own words, he had an agreement and Obama moved the goal posts.

AZfederalist on May 18, 2012 at 3:44 PM