This is the same genius that thinks increasing taxes on small businesses so government won’t have to shrink, taxing America out of deficit, and a global reserve currency run by the IMF, would be nifty ideas.
From CNS News.
Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
“Well, this is something only Congress can solve,” Geithner said. “Congress put it on itself. We’ve had 100 years of experience with it, and I think only once–last summer–did people decide to use it to threaten default on the American credit for the first time in history as a tool for political advantage. And that’s not a tenable strategy.”
Hunt then asked: “Is now the time to eliminate it?”
“It would have been time a long time ago to eliminate it,” Geithner said. “The sooner the better.”
Hey, ya know what would be even better? Just print oodles and oodles of money to keep covering the spending habits of Obama’s out of control socialist Kleptocracy.
We have a $16 trillion+ debt. The tax/borrow/spend orgy is unsustainable. The great socialist experiment is an Epic Fail. Small business accounts for around half the GDP and more than half the employment. Since the number of wealthy people is shrinking, Obama wants to shake down the Middle Class for more money to use on his spending spree.
Welcome to four more years of “change”, how’s it going for ya?
Assholes like Geithner should have been eliminated a long time ago.
- Geithner: We should definitely just get rid of the debt ceiling (hotair.com)
- Geithner: We Should Eliminate the Debt Ceiling (freebeacon.com)