Tag: Geithner

Another Long Four Years

Whenever a president begins a second term, we see a slew of resignations and new appointments to Cabinet positions. It’s happening again, but I’m not sure I’ve ever seen such a sorry slate of appointees waiting to be confirmed by the Senate. The first to jump ship was Timothy Geithner, who has held the post of Treasury Secretary for the last four years. I would wonder if Geithner decided to bail out now because of the shipwreck looming ahead, but… Read more »

Let’s Be Honest

Treasury Secretary Timothy Geithner testified before a House committee yesterday. When asked by a Republican congressman just how much the debt ceiling would have to be raised to meet all the expected expenses of the next decade, Geithner was reluctant to give a straight answer. In the end, he said something to the effect that the congressman would not be happy with the number. The best estimate from economic analyst Stuart Varney is that we would have to raise the… Read more »

Making Matters Worse

It’s huge. It’s mind-boggling. It’s the Obama administration’s new budget proposal. A decidedly non-conservative source—the Associated Press—warned, Not since World War II has the federal budget deficit made up such a big chunk of the U.S. economy. And within two or three years, economists fear the result could be sharply higher interest rates that would slow economic growth. What led the AP to issue such a dramatic prognosis? The new Obama budget calls for a record deficit of $1.65 trillion… Read more »