Article

2011-01-12 Economy

Treasury Secretary Geithner says in letter to Congress US may go into default

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Posted by Anonymoose 2011-01-12 11:30|| || Front Page|| [6 views ] Top

#1 Yay! We are screwed either way! Thanks Obama and cronies for the change! Now we just need Hope!

Posted by DarthVader 2011-01-12 11:55|| 2011-01-12 11:55|| Front Page Top

#2 Treasury Secretary Geithner says in letter to Congress US may go into default..now. Just putting off the issue to another day...kicking the can down the road...

Does he have a viable solution that doesn't eventually result in default?

Posted by Procopius2k 2011-01-12 14:15|| 2011-01-12 14:15|| Front Page Top

#3 Racist!

Posted by g(r)omgoru 2011-01-12 15:38|| 2011-01-12 15:38|| Front Page Top

#4 He's pushing to have the debt ceiling raised.

Posted by gorb 2011-01-12 16:57|| 2011-01-12 16:57|| Front Page Top

#5 So we're not going to be able to pay back all we have borrowed unless we borrow even more.

Posted by Thing From Snowy Mountain 2011-01-12 18:06|| 2011-01-12 18:06|| Front Page Top

#6 Arthur laffer's take on the debt ceiling (should be called target) in today's WSG.
A Price for Raising the Debt Ceiling
Republicans should attach provisions repealing the worst aspects of ObamaCare and financial reform to spending that the president absolutely needs

Posted by tipper 2011-01-12 20:27|| 2011-01-12 20:27|| Front Page Top

#7 The identical item was covered last week on the 'Burg. It isn't that newsworthy.

Posted by Anguper Hupomosing9418 2011-01-12 22:31|| 2011-01-12 22:31|| Front Page Top

#8 IIRC GLEN BECK SHOW [Fox] > I believe His Glenn-ness argued that, due to POTUS FDR's Depression-era Socialist economic polices + for WW2 per se, YEAR 1944 > DESPITE CLEAR TREND TOWARDS ABSOLUTE US-ALLIED MIL VICTORY AGZ NAZI GERMANY + JAPAN, THE US DEBT-TO-GDP ECON RATIO FOR 1946 WAS CALCULATED TO RISE TO BE AS HIGH AS 146% OF GDP, IFF NOT HIGHER, WHICH NEARLY ALL US GOVT + ACADEMIC PERTS PERTS ARGUED WOULD INEVITABLY INDUCE A US NATIONAL COLLAPSE ON OR BEFORE 1950 UNLESS US GOVT SPENDING + DEFICITS WERE BROUGHT IMMEDIATELY UNDER CONTROL.

IOW, the US would had militarily won WW2 but collapsed in utter national econ ruin on or before 1950. a mere five years after said victory.

Which in turn is why His Glenn-ness argued ALL AMERICA SHOULD THANK GOD THAT THE US GOP-RIGHT WON THE MORE IMPORTANT US CONGRESS ELEX IN 1944, NOT THE PRESIDENCY AGZ POTUS FDR [or even POTUS Truman?].

Slowly but surely the GOP-Right won WW2 in 1945 while simultan beginning THE DOWNSIZING, DEMOBILIZATION + PRIVATIZATION, OF POTUS ROOSEVELT'S MASSIVELY OVER-SIZED 1930's-1945 US GOVT, which resulted in the Boom-N-Prosperity Years that was the EISENHOWER ERA = 1950's.

Posted by JosephMendiola 2011-01-12 23:51|| 2011-01-12 23:51|| Front Page Top

#9 GLEN BECK > POTUS BAMMER'S OBAMACARE + ECON STIMULUS WILL ONLY INCREASE THE SIZE + LIABILITIES OF THE FED, NOT REDUCE THEM, hence increases the risk/danger of per se US NATIONAL COLLAPSE???

Posted by JosephMendiola 2011-01-12 23:55|| 2011-01-12 23:55|| Front Page Top

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