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Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”

 
Philligan
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08/09/2012 04:40 PM

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Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
At a Capitol Hill hearing, South Carolina Republican Rep. Trey Gowdy asked Treasury Secretary Tim Geithner a thought-provoking hypothetical question. The congressman wanted to know:

“If this were the last debt ceiling request you could ask for … the final one and you had to make it large enough for all current and future obligations, what would the request need to be?”

Not surprisingly, Geithner didn’t have a ready answer, but Gowdy didn’t let it go. At last, Obama’s only remaining original economic team member admitted, “It would be a lot. It would make you uncomfortable.”

WATCH:


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Philligan (OP)
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08/09/2012 04:46 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Thought this was interesting with the whole fiscal cliff and debt ceiling coming us VERY VERY soon
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Anonymous Coward
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08/09/2012 04:52 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Funny thing is, when you watch the whole video, Geithner ends up looking finally comfortable, doesn't he?
burnit
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08/09/2012 04:54 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Well I mean in that hypothetical situation he's correct. Current and Future?

Wouldn't that mean infinity?
Anonymous Coward
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08/09/2012 04:54 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Well I mean in that hypothetical situation he's correct. Current and Future?

Wouldn't that mean infinity?
 Quoting: Anonymous Coward 14899339


Or say like relative future couple fiscal years?
Lemon

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08/09/2012 04:57 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Well I mean in that hypothetical situation he's correct. Current and Future?

Wouldn't that mean infinity?
 Quoting: Anonymous Coward 14899339


Or say like relative future couple fiscal years?
 Quoting: Anonymous Coward 14899339



Congress authorizes all spending, Geithner borrows the amount congresss defecit spends. If congress dosen't want to raise the debt ceiling, stop spending.

**edit - I don't want to sound like I am defending the bankers, I believe the bankers & congress are both scum looking up at the bottom of the sewer.

Last Edited by Lemon on 08/09/2012 04:58 PM
**I'm all out of bubblegum
Philligan (OP)
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08/09/2012 05:13 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Funny thing is, when you watch the whole video, Geithner ends up looking finally comfortable, doesn't he?
burnit
 Quoting: Anonymous Coward 21400133


Yea the congressman really butters him up doesn't he?

I know how smart you are!
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Philligan (OP)
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08/09/2012 05:20 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Notice that, since this summer, the debt ceiling has increased and the debt itself has also increased — but Congress has not enacted any kind of meaningful deficit reduction plan. What’s to prevent this from continuing until we are like Greece?

One way or another, the nation will eventually be forced to learn to do without government programs it cannot afford.
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Anonymous Coward
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08/09/2012 05:25 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Why doesn't anyone ever talk about the Fed granted some type of debt forgiveness in return for QE3? Why aren't we refinancing the national debt?
Anonymous Coward
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08/09/2012 05:25 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Well I mean in that hypothetical situation he's correct. Current and Future?

Wouldn't that mean infinity?
 Quoting: Anonymous Coward 14899339


He clarifies and says "assuming that congress authorizes no additional spending". So they are talking about what they have already promised out in obligations and entitlements... it's already more then we could ever hope to meet with all of the currency thats ever existed on earth...
Philligan (OP)
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08/09/2012 05:26 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
this is pin worthy IMHO.

The Treasury Secretary of the US, the only remaining member of Obama's original economic team, cant answer a question and then buckles to say, the amount would make you uncomfortable!

THIS IS THE PROBLEM. Too much spending. our grandchildren will see this cripple the country. And maybe sooner
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Philligan (OP)
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08/09/2012 05:35 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Hey, if it works so well, lets just give them a hundred thousand trillion. We’d finally have Utopia, right?
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FierySky

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08/09/2012 05:37 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
The nation is already crippled. It won't take until the grandchildren get here.

What they need is a
Catastrophic Insurance plan for Individuals.

That needs to be tied in to Social Secutiry and Medicare.

That I could agree to instead of ObamaCare. Then, we could all pay for our minor health bills, but anything major, like Cancer or Appendix Ruptures, that kind of thing would be covered.

The Government needs to stop funding the Private Sector Research and Development bullshit. If these pharmaceutical giants make so damn much money, they shouldn't be getting hand outs from the government.

Neither should Universities. Make these upperclass intellectuals create something for a change instead of spending their lives creating something to study for money.
Philligan (OP)
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08/09/2012 05:44 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
The nation is already crippled. It won't take until the grandchildren get here.

What they need is a
Catastrophic Insurance plan for Individuals.

That needs to be tied in to Social Secutiry and Medicare.

That I could agree to instead of ObamaCare. Then, we could all pay for our minor health bills, but anything major, like Cancer or Appendix Ruptures, that kind of thing would be covered.

The Government needs to stop funding the Private Sector Research and Development bullshit. If these pharmaceutical giants make so damn much money, they shouldn't be getting hand outs from the government.

Neither should Universities. Make these upperclass intellectuals create something for a change instead of spending their lives creating something to study for money.
 Quoting: FierySky


Crippled? Not according to all the sheeple that will vote for Obama this year. In fact were thriving. No I mean a collapse. Most families with money in the market will lose everything
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Philligan (OP)
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08/09/2012 06:08 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
Ok give this 2 months and this will be front and center here on GLP.

Ill bump the thread then
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Anonymous Coward
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08/09/2012 06:19 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
At a Capitol Hill hearing, South Carolina Republican Rep. Trey Gowdy asked Treasury Secretary Tim Geithner a thought-provoking hypothetical question. The congressman wanted to know:

“If this were the last debt ceiling request you could ask for … the final one and you had to make it large enough for all current and future obligations, what would the request need to be?”

Not surprisingly, Geithner didn’t have a ready answer, but Gowdy didn’t let it go. At last, Obama’s only remaining original economic team member admitted, “It would be a lot. It would make you uncomfortable.”

WATCH:


 Quoting: Philligan


and u wonder why.....we r so pissed..
Philligan (OP)
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User ID: 2530194
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08/09/2012 08:06 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
I dont wonder why. I get extremely upset though of the sheeple that vote for Obama and dont even know what day it is.
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Philligan (OP)
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08/09/2012 08:49 PM

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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
no shame bump
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Anonymous Coward
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08/09/2012 11:54 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
B.S.

These guys DON'T ASK...
Anonymous Coward
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08/09/2012 11:59 PM
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Re: Geithner: If Treasury could ask for just one more debt ceiling increase, the amount we’d request “would make you uncomfortable”
lmao

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