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Geithner: U.S. Fiscal Situation 'Unsustainable'

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posted on Apr, 5 2012 @ 12:29 PM
Geithner: U.S. Fiscal Situation 'Unsustainable'
By Matt Cover
April 4, 2012

Treasury Secretary Timothy Geithner had some wisdom to share at the Economic Club of Chicago.

He made many statements.

The wisdom and intellect is astounding.

( – Treasury Secretary Timothy Geithner said that the U.S. government’s long-term fiscal commitments are “unsustainable,” but that they should not be the country’s top priority, because the government still needs to “do things.”

“Our fiscal commitments are unsustainable over the long run, but we cannot put our long-run fiscal challenges above all others,” Geithner told the Economic Club of Chicago on Wednesday. “We have to be willing to do things, not just cut things.”

“The president has a different strategy for economic growth. He believes that while our long-term fiscal problems are formidable, we can address them over time with a balanced package of reforms that preserve room for investments that will help us grow,” he said.
Yes Yes, we all know that already ! ... BTW, What IS Obama's "plan" anyway ?

However, President Obama has produced no such plan, and his most recent budget does not include anything similar to what Geithner described. In fact, Geithner himself has admitted that the administration does not have a definitive plan, telling Congress in February that the administration had no “definitive solution” to the nation’s long-term debt crisis.

“We’re not coming before you to say we have a definitive solution to our long-term problem,” Geithner told House Budget Committee Chairman Paul Ryan (R-Wis.). “What we do know is we don't like yours.”
But WHAT exactly IS Obama's plan again ?

He goes on with more empty merry-go-'round brilliance

Could it really be that Obama has no plan at all ?

Unless he has a hidden agenda.

posted on Apr, 5 2012 @ 12:56 PM
Why did it take these guys 12 years to figure that out?

Because that's how long our representatives of both parties have been enabling out of control spending
while giving huge tax cuts to the ultra wealthy and mega corporations.

The truth is they only bring it up now, because they want to take more money from the average
person to feed their out of control machine. This is also how they designed it to make it easy to
take away your cut of government services. "We are too broke, looks like we will just have to
kill medicare because we've been spending recklessly and giving huge tax breaks to the ultra wealthy. Sorry!"


posted on Apr, 5 2012 @ 01:04 PM
I just posted elsewhere, that yet another banker is resigning. Bad omen!

posted on Apr, 5 2012 @ 01:20 PM

Originally posted by Saucerwench
I just posted elsewhere, that yet another banker is resigning. Bad omen!

Feel free to link.

we need to follow all the rabbit tracks !

posted on Apr, 5 2012 @ 05:47 PM
reply to post by xuenchen

Forum'er petrus4 made this thread back on Feb 21, (New list of banker resignations)
and it died quick, but I found it relevent to post my news in. Here is my link. I went away from my computer when you last posted here. Sorry bout that!

Site called Zero Hedge.

posted on Apr, 5 2012 @ 05:56 PM
< Continued from previous

And Reuters yesterday,

Says this.

Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.
But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

edit on 5-4-2012 by Saucerwench because: correction

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