U.S. Treasury Secretary "Little Timmy the Tax Cheat" Geithner did his best last week, to defend Barry's recent decision to release emergency oil reserves, saying on Friday that it was anything but a political stunt. "It's really as simple as this: there's a war in Libya, costs between one and two million barrels a day in lost output, I think 140 million barrels off the market so far," he said in response to a question at Dartmouth College, where he spoke on a panel. "Reserves exist to help mitigate those kinds of disruptions and we helped to organize a coordinated global international response to help ease some of that pressure," he added. Someone needs to inform this moron, as well as his idiotic and misinformed boss, that that is not why our petroleum reserves exist. They are, or at least have been considered as such under Republican presidents, part of our nation defense and are to be used should we, God forbid, be involved in some war or conflict where our oil supplies would be interrupted or even severed completely. And since a goodly share of the oil we import today has as it source countries who are not exactly our friends, I'd say that could be a real concern. But I guess not to Barry or this loser, Geithner. This entire team of misfits quite literally has no concept of what it is that they're supposed to be doing. The entire focus remains on Barry's agenda that he ran on, his mission to radically transform this country. And when looking over the last 28 months it would be very hard to argue against the fact that he has made some pretty substantial progress in the endeavor. There is nothing that he will not stoop to as he works to get this country into a position from which it will be unable to recover from.
The Paris-based International Energy Agency announced on Thursday that it was tapping member countries' emergency reserves, some 60 million barrels over 30 days, for only the third time since it was founded in 1974, to fill the gap in supplies left by the disruption to Libya's output. I'll admit I don't know a whole lot about this 28-nation IEA, but supposedly this little group was set up after the Arab oil embargo as a counterweight to OPEC. Apparently this "agency" was formed during that previous very dark period in our history, that debacle which is referred to today as being the Carter presidency. Apparently this IEA issued a statement that said the move was a bid to boost the global economic recovery by holding down oil prices. My question is, who are these people and how exactly is this release of what is, in the big scheme of things, very little oil, supposed to boost some nonexistent global economic recovery? What gives them the right to dictate to us, as a sovereign nation, just how much of our reserves we need to turn loose? Wouldn't it be nice to have as president a man who would actually stand up for our country? And of course, it should go without saying that the United States will provide half of the total volume that is to be released while the other 27 nations will, supposedly, provide the other half. Gee, sounds fair to me. NOT! Naturally, lets just screw over the Americans one more time, they're used to it. Our pathetic president can never quite resist the urge to throw America under the bus whenever the opportunity may present itself. The decision caught energy and financial markets by surprise and generated criticism from oil companies, members of the OPEC oil-producing cartel and Republican opponents of the Barry's corrupt and purely politics-driven administration.
Since oil prices already had fallen from early-May peaks that were near $115 a barrel, critics said the action appeared aimed more at propping up Barry's popularity rating much more than being about helping out consumers at the pump. But Timmy, the ever eager little beaver trying to support his boss, met with local business leaders earlier on Friday in nearby Manchester before speaking at Dartmouth, and said that putting additional oil supplies on market was "sensible policy" that should give a lift to a slowly expanding economy. "It will provide some modest help and relief" to the U.S. economy, Geithner told reporters afterward. "It was a prudent use of existing reserves." This stupid action will provide nothing but a very short term relief, if it provides any relief at all, which clearly reveal the politics involved here. We need to be drilling, but I guess actually going out and drilling for more oil is not a "sensible policy" that needs to be pursued. High oil prices have put "significant" pressure on global growth, he said. Timmy has limited his foreign travel this year, concentrating on trying to build support in Washington for a hike in the debt ceiling before August 2 when Treasury said the country will be at risk of default. But he has made several day trips to different regions, like Friday's to New Hampshire, urging business groups to tell Republican lawmakers that concluding a budget and debt deal is urgent. Yes, we must convince everyone that we are now being faced with yet another urgent crisis that is in need of being addressed immediately if not sooner. We've heard this very same line time and time again since before these clown even came town. Crying wolf yet again there, are we, Timmy?
In his remarks at Dartmouth, Geithner said many factors restraining U.S. economic expansion were temporary, including supply-chain disruptions from Japan's massive earthquake in March. Man this guy really reaching, with it being very obvious he will say absolutely anything in an effort to convince anyone who will listen, that this administration is diligently working on an economic recovery plan. But all available evidence point to the unavoidable conclusion that they are working toward the accomplishing of just the opposite. Timmy also said that an adjustment in housing markets was about two-thirds over. He said costlier energy and less vigorous worldwide growth would keep U.S. economic growth to around a 2 percent annual rate in the first half this year, but he insisted that underlying trends were improving. Me thinks that Timmy is talking out his ass. If you believe all of that nonsense I've got some ocean front property in Arizona I can sell you really, really cheap. Anyway, regarding budget talks in Washington, Geithner said he was confident Congress can still reach a deal, even after a top Republican lawmaker, that would be Rep. Eric Canter, the House Majority Leader, walked out of the talks last week. But he said tax increases cannot be taken out of the equation. Of course they can, Timmy, you just don't want them to be. Look as I have repeated this ad nauseam here, what we have here IS NOT a revenue problem. What we have here is a spending problem. And apparently we also have is a failure to communicate in that Barry and his weird little sidekick Timmy, don't want to hear that taxes don't need to be raised.
"You need to have modest changes in revenue," Geithner said. "There is no way to do a deal without it." I'm curious to know just how it is that "Little Timmy" defines "modest." I have a sneaking suspicion that it's not quite the same way that the rest of us do. He said that business leaders whom he met with on Friday had some encouraging words about the environment they face. Oh really? And just who were those guys? "Things are gradually getting better," Geithner said, adding that the U.S. economy is still growing "a little slower" than had been expected. A "little slower than expected?" It would be funny if it weren't do deadly serious. I'd say these guys were like the "Keystone Cops" but they're much more dangerous than that. U.S. economic growth in the first quarter was an annualized 1.9 percent, the Commerce Department said on Friday. Wow, we got a regular economic boom going on here! That was revised up from a previous 1.8 percent reading. You gotta be kidding me! But it is still way too low to be any kind if an engine for private job creation, with the high U.S. unemployment rate of 9.1 percent posing a reelection challenge for Barry "Almighty." The budget deal "needs to get done in a way that doesn't put too much pressure on the economy near term," said Geithner, calling for "the right kind of balance" and a deal that does not skew too much to elements that could hinder growth. Business people badly want to see Washington reach a broad agreement on the budget, and soon, Geithner added. "A lot of people think that would be good for the economy, and I agree." Blah, blah, blah.
There is one fact and one fact only that accurately describes what is going on here. It is the fact that this entire administration has absolutely zero interest in doing anything that will actually be good for our economy and that will actually stimulate the growth of jobs in the private sector. Since day one they have been interested in doing nothing more but than driving it even further into the ditch and then blaming Bush. I just don't think that any self respecting individuals who call themselves economists, of which Paul Krugman is not one, would say that any of the actions this administration has taken would produce a result that would come as being unexpected by anyone. And a good many of our moron population in this country has bought into all of the garbage spewed by Barry and his team. And I think it is very safe to say, and with a high degree of certainty, that every thing Barry does, and I do mean everything, is based entirely on politics. Whether it’s the releasing of oil from the reserves, to refuse to defend the Defense of Marriage Act or the bringing of too many troops home too quickly from Afghanistan. It's all about politics and improving his chances for victory in 2012, which is something that needs to be prevented if we are to have any chance of moving beyond this period of extreme moral, social, economic as well as financial decay that will, no doubt, come to be referred to as being the Obama presidency. Right now this country is so far off of the tracks and there seems to be so little interest being shown by our president regarding the subnative things that NEED to be done to, if not get us entirely back onto the tracks, at least headed back toward the tracks.
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