Flashback: Tax Cheat Timothy Geithner: No Risk U.S. Will Lose AAA Credit Rating
Asked in an interview on Fox Business Network whether there was a risk that the United States could lose its AAA rating, Mr. Geithner said: “No risk of that.”
“No risk,” Mr. Geithner said, according to a transcript of his remarks. “Again, if you look — if you listen carefully now, you see the leadership of the United States of America, the president, the Republican leadership in both houses and the Democrats recognizing now that this is the right thing to do for the economy. That we have to put in place now reforms that bring down our long-term deficits in ways that’ll help strengthen future growth. And that’s incredibly important recognition by people and we’d like to put something in place as soon as we can so we can begin that process.”
Both President Obama and Republican lawmakers have suggested plans to cut the federal deficit by at least $4 trillion over the next 10 to 12 years, but disagree on methods. In its warning, the S.&P. questioned whether government leaders would be able to agree on how to address the medium- and long-term budget challenges by 2013.
“More than two years after the beginning of the recent crisis, U.S. policy makers have still not agreed on how to reverse recent fiscal deterioration or address longer-term fiscal pressures,” said Nikola G. Swann, a credit analyst at Standard & Poor’s. The firm said that there was a one in three chance that it could lower its long-term rating on the United States in two years.
As Mr. Geithner took the lead for the administration in responding to the S.&P. warning, President Obama began a tour to promote his plan for reducing the deficit. In his first stop, at a town hall meeting in Virginia, Mr. Obama said he believed Democrats and Republicans will come together and reach a deal to cut budget deficits.
Related posts:
- Truth In Numbers Part One: Deficits First and foremost, both the Republicans and Democrats got us...
- Truth In Numbers Part Two: Deficits Vs GDP First and foremost, both the Republicans and Democrats got us...
- Truth In Numbers Part Three: Don’t let facts get in the way…….. First and foremost, both the Republicans and Democrats got us...
- O.T.P. – One Term President By The Wolverines! illuminatitv | February 27, 2010 JOIN THE REVOLUTION! OTP...
- Do NOT Get Over Confident But….. Charlie Cook Says Democrats Are Going Lose Big Time In an interview with WSJ’s Jerry Seib, veteran political...



Twitter
RSS
Facebook
Leave a Reply