Treasury Secretary "Timmy the Tax Cheat" Geithner says that he just loves the work he is doing so much that he has every intention of remaining in his current job "for the foreseeable future." Lucky freakin us. This news comes on the heels of rampant press reports floating all around Washington that "Timmy" has told Barry "Almighty" that he was considering stepping down from his powerful post. The fact that that may now be nothing more than a rumor certainly doesn't bode well for the improving of prospects for an economic upturn occurring anytime soon, at least for as long as "Timmy" sticks around. Or for that matter, the rest of us who are now essentially being forced to watch as our savings for retirement and college rapidly goes down the tubes. Here we sit with inflation that's the worst it's been in over 2 years, by coincidence, just about the length of time for "Timmy's" tenure at Treasury, a housing market that is so far in the dumper that it may take decades to recover, if it ever does, and an unemployment rate that seems to be permanently stuck at over 9 percent. Now we're being told that this higher rate unemployment should now begin to be considered as being the new normal, even after promises were made that it would never go above 8 percent if only we trusted Barry and his team. Those were claims we should never have bought into because "Timmy" was doing nothing more that pulling numbers out of his hat, he was a man on a mission, a mission to wreak as much economic damage as possible and in as short a time as possible. Mission Accomplished there, "Timmy."
Certain Treasury officials, who shall remain nameless, have apparently told Fox News that "Timmy" has not yet made any decision, "and doesn't plan to make any decisions while he's focused on the work at hand, particularly negotiations on deficit reduction and the debt limit." The work at hand? You mean the accelerating the level of damage that he has already done? "Timmy" made the comments to former President "BJ" Clinton in Chicago Thursday evening while speaking at a meeting of the Clinton Global Initiative which, if I remember correctly, I think was held at some local strip club and massage parlor. "Timmy" is the last remaining member, the last man standing so to speak, of the original group what was once hysterically referred to as being Barry "Almighty's" economic team and, I hear, is one of Barry's most trusted advisers. Those familiar with the stress of high-level, cabinet positions think "Timmy" recognizes there's a window in which he could bow out gracefully as secretary after a debt ceiling deal is brokered. Bow out gracefully? This guy needs to be tarred and feathered and run out of town on a rail right along with his socialist boss. The only reason he's sticking around is so that he can continue to sound the alarm regarding the supposed urgency of failing to allow this country to borrow even more money so that he can then turn around and spend, or giveaway, more money. Overseeing the economic collapse of the United States, I suppose, can be a rather stressful job. You know, so many people to push onto the unemployment rolls, so many private companies to shove into bankruptcy, seize or encourage to go overseas, the list just goes on and on. It's allot of work.
Austan "Ghouls"bee, another individual who many claim to be some economic genius, is set to leave his post as chairman of the Council of Economic Advisers and counts himself as "Timmy's" "friend," said on CNBC that he's surprised to hear rumors of "Timmy's" possible departure, but that his family would likely be behind any decision he makes. "Timmy," I guess, has a son in high school, although I'm not sure what that has to do with anything. Why exactly would Mr. "Ghouls"bee be surprised to hear rumors about "Timmy's" departure, it can't be because no one wants him to go because he's done such a bang up job and needs be kept around. Of course those who are busy looking through rose colored glasses, most likely see a very different outcome that has resulted specifically from policies enacted than do those of us out here who are just trying to survive. And another thing, why is it that whenever some downturn happens that is even remotely connected with the economy, always, and I do mean always, it either comes as a complete surprise to these people or as something that was totally unexpected? Whether it's the number of rising jobless claims filed or a drop in consumer confidence, if it is somehow related to the economy, it always comes as a total shock to these people. Personally, I thinks it's nothing more than one big act. All that these people have undertaken over the course of the last 2+ years has been done with a specific purpose in mind. And the results of their efforts that we are now seeing is exactly what these people intended to take place. And all of this mock surprise and shock is simply for affect. And an attempt to hoodwink the American people into thinking that they really are trying to make better.
Anyway, back to the supposed bang up job that our buddy "Timmy" is doing and has done thus far. Under his stellar and most exemplary leadership, along with his possessing a very keen intellect regarding all things financial, this one of a kind wonder-kid has now overseen the largest increase in our national debt of any Treasury secretary that has preceded him in all of American history, having now presided over a $3.7 Trillion increase in the nation's debt. WOW, now that is an accomplishment that old "Timmy" can be very proud of and it is sure to make him a highly sought after speaker as well as make him the darling of the loony liberal lecture circuit. And at the time he was brought in, wasn't he the one guy viewed as being the "only" guy capable of getting us out of our, then worsening, economic problems. I guess I'm just not seeing what it is that he's supposed to have done, other than, of course, to succeed in making matters significantly worse than they were before he started. But having said that, our buddy "Timmy" has racked up some pretty impressive numbers while on the job. According to data from the Treasury Department’s own Bureau of the Public Debt, the national debt has increased $3,723,575,990,130.10 from Jan. 26, 2009 until June 30, 2011, "Timmy’s" entire tenure to date as Treasury secretary. When "Timmy" took office the total national debt stood at $10.6 Trillion. As of June 30, 2011, it had risen to $14.3 Trillion. Now is that an accomplishment or what. I guess it looks like all those folks who that "Timmy" was our go to guy were right after all. NOT!!!
In sad fact of the matter is that the level of debt accrued under "Timmy" is greater than all federal debt accrued in the first 204 years of the nation’s history. Now that, my friends, is quite the accomplishment. The national debt did not reach $3.7 Trillion until October 1991, according to historical Treasury data that reaches back to 1791. "Timmy," who reportedly may step down from his position soon, has overseen the accrual of more federal debt (in only 2.5 years) than every Treasury secretary combined from Alexander Hamilton to Nicholas Brady, who was Treasury secretary in October 1991 when the national debt reached $3.7 Trillion. Since then, the federal debt has increased by historically large amounts under each Treasury secretary since Brady but not to the level it is today under our supposed financial whiz kid, "Timmy." The debt increases under those secretaries are presented below.
Nicholas Brady (9/15/88-1/17/93): $1,564,862,000,000.00
Lloyd Bentsen (1/20/93-12/22/94): $559,880,257,144.59
Robert Rubin (1/11/95-7/2/99): $815,560,432,731.13
Lawrence Summers (7/2/99-1/20/01): $109,651,004,604.88
Paul O’Neill (1/20/01-12/31/02): $677,930,718,549.89
John Snow (2/3/03-6/30/06): $2,040,609,369,491.81
Henry Paulson (7/10/06-1/20/09): $2,218,644,118,047.16
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