The Leveller: A modern day regulator

Geithner: Lower deficit key to sustaining recovery

Treasury Secretary Timothy Geithner says the U.S. must cut the annual federal budget deficit, now more than $1 trillion, for the economy to have a sustained recovery and he’s not ruling out new taxes.

He also states this:
“When we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically”

Does he really think that we believe that he believes this? After supposedly “saving” the financial sector he and Bernanke are getting credit for an alleged recovery.

Everyone has been paid off and keep getting paid off with increasingly worthless money. The ones that first get the money, be it the financial sector or the auto industry of course get the money at a higher value by the time it circulates into the economic equation so they benefit initially from the stimulus but thats where it really stops.

So this fool after causing the deficit that he deems responsible for establishing the recovery is putting the burden on so called private sector leadership to dissolve that very deficit!

The stimulus was in fact the first burden placed on the private sector, and now saddled with never before heard of deficits it must also recover. With friends like this show me a free market enemy!

This is a turning point in the official stance. After taking the credit the Obama officials will simply say look you wanted recovery, we gave that to you, now we have to pay for the recovery. This is asinine.

And finally this remark:

“I think that really everybody understands that we cannot have our financial system go back to the practices that brought this economy to the brink of collapse,” Geithner said.

It was government sanctioned system It was because of government intrusion, cooperation, legislation that created the very system that causes the most damage.

Can’t we ever luck into electing someone with economic sense in government? Why only the unscrupulous survive in Washington?