Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity. On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.” “Oh, absolutely,” Geithner said. ... “It would have been time a long time ago to eliminate it. The sooner the better."
Comments: Interesting....never once heard him answer the debt crisis question this way before the election. Hey...I guess deception is the norm these days.
We all know he didn´t like paying his taxes...so what should we expect from him...I guess no one pays...ooh la la more freebies....
Reply 10 - Posted by:
O.S. Banker, 11/20/2012 8:27:50 AM (No. 9025051)
I keep thinking that at some point, Harvard, Yale, et.al. will demand the return of the degrees held by their respective alumni who make such blatantly idiotic remarks. Surely somewhere there is a Board of Regents with a single honest member saying "He said what?"
Reply 11 - Posted by:
Country Boy, 11/20/2012 8:30:22 AM (No. 9025052)
Meanwhile barrack obama sets America in his crosshairs and silently chants "Allah Akbar"
Reply 12 - Posted by:
The Architect, 11/20/2012 8:35:21 AM (No. 9025063)
End the Debt ceiling? End the Republic! I have a better idea. raise the debt ceiling by 40billion every 60days. Just enough to put off default and keeping next years deficit at 240billion. That is a lot better than 1.2 Trillion. :-) If you are a thief, you usually tell the bank teller to put ALL the money in your bag!
House GOP has to attach a limit to what the Federal Reserve can purchase/hold in Treasury & Agency obligations. Fed is currently largest buyer of federal debt, giving Obama and Dems a credit card without borrowing limits. Don´t need the Chinese, just an accommodative Ben Bernake.
Might as well end the debt ceiling since neither party observes it. Whenever spending approaches the ceiling, both parties play a little political ping pong with it and ultimately agree to raise it. Perhaps more basic financial management might be in order for government programs. But, as former congressman Simpson of the bi-partisan commission said, suggest a little shared responsibility and you get your shorts ripped off.
Our young, romantic voters will put up with this until they cease to. Really, I prefer a dope smoking libertarian over any strident, stomping republican, or wasteful, treasure exhausting democrat. It´s our money, our military and our lives at stake here!
Geithner, the tax cheat, is a fool. Until this country goes back to fiscal responsibility, we will be going down the road to ruin. Can any smart person actually believe that we can keep spending at an astonishing rate, then print more dollars to cover the cost, and think it will not collapse the whole system? Geithner is both ignorant and arrogant. We have people living in houses right now for free; they were allowed to buy houses they could not afford. We have a student loan debt in this country bigger than the credit card debt. GM is selling cars to people with no money, no down payment, and since Ally, their financial company is owned 80% by the American taxpayer, we are again continuing the GM bailout. We are giving illegals welfare, food stamps, and government assistance; when is this going to stop?
Around the same time the nation was transfixed on the hunt for the Boston Marathon bombers last month, thieves on the other side of the country pulled off a little-noticed heist -- swiping 559 pounds of explosives from a federal storage facility in Montana. As of Friday, not one ounce of it has been found. The incident, federal officials believe, was not terrorism-related. But it´s the latest to raise security concerns in an age when authorities are warning about the desire of violence-bent terrorists to inflict mass casualties with bombs.
President Obama found himself weathering bipartisan broadsides Wednesday as he sent Congress his 2014 budget proposal, which in its effort to please both sides of the aisle has ended up angering both. The budget arrived on Capitol Hill Wednesday morning, delivered 65 days after the legal deadline. The $3.77 trillion spending plan, which is over 2,000 pages, tries to curb deficits by further raising taxes on top earners and reining in the growth of Social Security.
Former Detroit Mayor Kwame Kilpatrick, once seen as a rising star in Democratic Party politics, was convicted on Monday on two dozen federal charges of corruption and bribery while in office. U.S. prosecutors accused Kilpatrick, 42, his father and a city contractor of widespread corruption, extorting bribes from contractors who wanted to be awarded or keep city contracts, turning the mayor´s office into "Kilpatrick Incorporated" during his seven year tenure.
The Internal Revenue Service on Friday unveiled its proposal to raise tens of billions of dollars through annual fees on health insurers, prompting fierce criticism from industry groups who warn the costs will be passed along to consumers. The proposed rule from President Obama´s healthcare law will be published for public consideration in Monday’s Federal Register. The rule would assess annual fees on most insurers that would total $8 billion next year and rise thereafter, eclipsing $14 billion in 2018, according to the IRS.
Another member of the Washington political media stepped forward Thursday to claim he was threatened by the Obama White House, shortly after the White House denied reports that an adviser threatened famed Watergate journalist Bob Woodward. The latest claim comes from Lanny Davis, who served as counsel to former President Bill Clinton and later went on to write a column for The Washington Times.
President Obama’s political team is fanning out across the country in pursuit of an ambitious goal: raising $50 million to convert his re-election campaign into a powerhouse national advocacy network, a sum that would rank the new group as one of Washington’s biggest lobbying operations. (snip)But those contributions will also translate into access, according to donors courted by the president’s aides.
The fiscal crisis plaguing Detroit is now in the hands of Michigan´s governor after a state-appointed review team determined the city was in a financial emergency with "no satisfactory plan" to resolve it. Republican Gov. Rick Snyder has 30 days to decide if Detroit needs an emergency manager to take charge of its finances and spending, and come up with a new plan to get the city out of its financial mess. (Snip)The report also said the city´s bureaucratic structure makes it difficult to solve the financial problems. Intro repaired by staff
Erie, Colo. – A Colorado company is threatening to leave the state if a bill to ban high-capacity ammunition magazines becomes law. CBS4 Investigator Rick Sallinger toured the company in Erie. They said they would certainly prefer to stay. The company is called Magpul. Among other products, they make ammunition magazines which can hold up to 30 rounds. Tuesday night a state House committee took the first step towards banning them. The company’s chief operating officer, Doug Smith, made it clear to the state legislature that if the bill becomes law they will leave Colorado.
A conservative pro-immigration reform group has issued talking points to Republican lawmakers, telling them to avoid referring to the U.S. citizen children of illegal immigrants as "anchor babies" or calling for the construction of an "electric fence" on the border, among other things. (Snip) The memo urges lawmakers to call them "undocumented immigrants" and to avoid terms such as "aliens" or "illegals," which are seen as offensive and dehumanizing. Another phrase to avoid? "Send them all back." Link repaired and Snip added by staff.
TOKYO – Taro Aso has never been one to hold his tongue. But Japan’s 72 year-old deputy prime minister may have outdone himself with his latest gaffe. At a government panel to discuss social security reforms, the former prime minister called the elderly who are unable to feed themselves “tube people,” then proceeded to say the elderly should be allowed to “hurry up and die” to reduce the burden on a country tasked to pay for their medical expenses.
The Middle East Media Research Institute (MEMRI) released a video of Egyptian President Mohamed Morsi delivering racist, anti-Semitic, and anti-American remarks . The incendiary rhetoric becomes relevant now that the Obama administration plans to give 200 Abrams tanks and 10 F-16 fighter jets to the Morsi government. Morsi expounded on his anti-American and anti-Zionist views in 2010, as a member of the Guidance Office of the Muslim Brotherhood.
Secretary of State Hillary Clinton will not be able to testify next week before House and Senate panels on the Benghazi issue because she sustained a concussion, a top State Department official said Saturday. Clinton was a scheduled to testify Thursday on the Sept. 11 attack on the U.S. Consulate in Benghazi, Libya, in which U.S. Ambassador Christopher Stephens and three other Americans were killed. Deputy Assistant Secretary of State Philippe Reines said Saturday that Clinton is suffering from a stomach virus, fainted and hit her head, which caused the concussion. However, he did not say when
Mark Levin, who hosts one of America´s top radio talk shows and is considered by supporters to be the people´s pundit on the Constitution, is rallying his 8.5 million-strong audience to demand an historic convention of state governments to halt the "oppressive power" of the federal government. The author of two New York Times bestsellers on the threats to the Constitution, Levin hopes his latest, "The Liberty Amendments," out mid-August, will spark the state lawmakers to tap a rarely used Constitutional provision to institute measures that would brake President Obama´s use of executive orders, bar thousand-page laws and
The former commander of special operations in Northern Africa told a closed-door briefing today that he was largely detached from events the night of the Benghazi attack as he was traveling at the time. The testimony of Col. George H. Bristol, USMC, Former Commander, Joint Special Operations Task Force-Trans Sahara, Marine Corps Forces Special Operations Command Africa, had been eagerly anticipated by members of Congress. Originally, lawmakers had been told by the Defense Department that he had retired — the actual date is Aug. 1, an “administrative error” according to the Pentagon — and that they didn’t have
FORNEY, Texas - George Zimmerman, the former Florida neighborhood watch leader cleared of all charges in the shooting death of Trayvon Martin, was pulled over for speeding in North Texas on Sunday, CBS DFW reports. According to the station, Zimmerman was armed when officers pulled him over on Highway 80 in Forney, east of Dallas. (Snip) The officer reportedly did not recognize Zimmerman, who was driving a Honda pickup. Zimmerman told the officer he was armed and was then told to put the weapon in his glove compartment, according to the station.
Arizona Sen. John McCain was the Republican Party´s 2008 presidential nominee and he still wants the keys to the Oval Office. But he is beginning to sound more like a fan of likely 2016 Democratic presidential candidate Hillary Clinton. "She´s a rock star," he said in a newly released interview. "She has, maybe not glamour, but certainly the aura of someone widely regarded throughout the world," he added in a reference to her work as secretary of State. McCain, reportedly trying to win back his reputation as a GOP maverick, was asked by the New Republic
Serial sexter Anthony Weiner’s wife partly blamed herself last year when her horndog husband confessed to her that he was at it again. Friends and family told People magazine that Huma Abedin was kicking herself at the time for bailing out of couples counseling and focusing more on their newborn baby boy. But, thanks to a new round of joint therapy that continues even now, the couple was able to put the relapse behind them. “They really became a unit, and she feels much closer to Anthony now,” a relative told the magazine. That’s a long way from how Abedin
President Obama has been rolling up his sleeves campaigning across the country delivering a surreal stump speech message supposedly aimed at the middle class: big government works, Obamacare is manna from heaven, the wave of recent scandals are “phony” figments of the imagination, and all economic problems are the fault of the Republicans. Conveniently, he leaves out the bankruptcy of Detroit, a city run by his own party for more than half a century. His message is so stale and unconvincing, that even The New York Times and Washington Post have noticed. Both papers, usually loyal to Obama, remarked that
Gotta figure her lead would be even bigger without Joe Miller in the field here. Her nomination for the taking? Alaska should be a top tier pick up opportunity for Senate Republicans next year…but their top choice of a candidate is Sarah Palin. 36% of GOP primary voters in the state say they’d like Palin to be their standard bearer against Mark Begich to 26% for Mead Treadwell, 15% for Dan Sullivan, and 12% for Joe Miller.
Embattled Internal Revenue Service official Lois Lerner and an attorney in the Federal Election Commission’s general counsel’s office appear to have twice colluded to influence the record before the FEC’s vote in the case of a conservative non-profit organization, according to e-mails unearthed by the House Ways and Means Committee and obtained exclusively by National Review Online. The correspondence suggests the discrimination of conservative groups extended beyond the IRS and into the FEC, where an attorney from the agency’s enforcement division in at least one case sought and received tax information about the status of a conservative group,
Colin Powell has admitted to exchanging ´very personal´ emails with a Romanian diplomat but denies having an affair with the much younger woman after a hacker threatened to release their intimate messages. The 76-year-old retired general told the Smoking Gun that he met Corina Cretu, 45, roughly 10 years ago when she was working as an assistant to the president of Romania. She is now a member of the European Parliament. ´After I left the Department of State in January 2005 we stayed in touch via email,´ he told TSG.
Sen. John McCain — a Democrat? There was confusion Wednesday after the Arizona Republican mistakenly strolled into President Obama’s meeting with Senate Democrats at the Capitol. The room full of Democrats — who happened to be meeting in the same room where the Senate GOP usually holds their weekly policy luncheons — erupted in applause and laughter as the former Republican presidential candidate made his entrance. As McCain, 76, walked out of the Dem-filled space, reporters pressed him as to why he stepped foot in the room.
In preparation for the release of Oscar-bait film The Butler, Forest Whitaker, Oprah Winfrey, and director Lee Daniels (Precious) sat down with Parade magazine. The film chronicles a butler (Whitaker) who works in the White House through seven administrations. Winfrey plays the butler’s wife. In the interview, Winfrey explained her sadness that so few Americans know about the history of the civil rights movement: “They don’t know diddly-squat. Diddly-squat.” She then said of the historic use of the n-word, “I always think of the millions of people who heard that as their last
If we learned anything about Barack Obama in his first term it is that when he starts repeating the same idea over and over, what´s on his mind is something else. The first term´s over-and-over subject was "the wealthiest 1%." Past some point, people wondered why he kept beating these half-dead horses. After the election, we knew. It was to propagandize the targeted voting base that would provide his 4% popular-vote margin of victory—very young voters and minorities. They believed. He won. The second-term over-and-over, elevated in his summer speech tour, is the shafting of the middle class. But