“Harder Than Anything They’ve Ever Experienced in Their Lifetime”
July 11th, 2011Timothy Geithner was interviewed on Meet the Press and attempted to pin the tail on the economic downshift donkey by suggesting the natural disasters in the south and midwest this year, Japan’s tragic earthquake, and the EU’s financial woes were all weighing in on the U.S.’s inability to improve the situation at home. Geithner also suggests that the rising gas prices have been crucial over the past few months, making things more difficult than usual. All of these culprits may in fact be significant in this moment and are all very critical issues working against the U.S.’s financial stability, however the last time I checked this recession began back in late 2007. Before any massive tornadoes hit the Midwest/South. Before Japan almost experienced a nuclear meltdown. Using current events to explain the lack of improvements in the economy is like saying a person is obese because they had 6 Big Mac’s for lunch this week.
What did you have for lunch Geithner, 75% of the US Budget?
We must look at the spending, taxing, and debt practices that have been put into place since WELL before this recession even began. With unemployment percentages heading towards 10 and prices on the rise (my favorite falafel lunch place has jacked up their prices $.50 a wrap!) we can safely say that stimulating the economy with the same poison that made it sick will not cure this economic disease.
Geithner told Meet the Press that this recession is going to really hurt soon: “harder than anything they’ve ever experienced in their lifetime”. Geithner also said earlier in the interview that Obama’s “creative” bailout and stimulus plan kept America from falling off the cliff in 2008. If that’s the case, why on earth would we still be experience the hardest economic hardships NOW?
Geithner now cries for Congress to vote to raise the debt ceiling and allow these certain spending and debt monetization practices to continue, in hopes to curtail the depression or sever stagflation that is on the U.S. economy’s heels. At least Geithner knows that the future is bleak and the economy isn’t getting any better. Now if we could only get him to understand that the very policies he is supporting and directing are those that will keep this recession here and expand it to something much more traumatic.
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