Posted by: jhamon | August 2, 2009

Geithner: Lower Deficit by Raising Taxes. He’s Kidding, Right?

Timothy F.

Geithner Will Tax Us Out of Recession

From CBS News

AP)  Treasury Secretary Timothy Geithner says the U.S. must cut the annual federal budget deficit, now more than $1 trillion, for the economy to have a sustained recovery and he’s not ruling out new taxes.

He said the country needs to understand the Obama administration will do what’s necessary. He did not detail how the government plans to shrink the deficit, though he said overhauling the health care system and lowering costs are essential.

“When we have recovery established, led by the private sector, then we have to bring these deficits down very dramatically,” he told ABC’s “This Week” in an interview broadcast Sunday. “And that’s going to require some very hard choices. And we’re going to have to do that in a way that does not add unfairly to the burdens that the average American already faces.”

Geithner also said private economists generally expect to see growth later this year and unemployment to ease in the second half of next year.

The only way to cut the deficit is to cut government spending.  

Raising taxes to end the recession is as ridiculous as Popeye standing on the deck of his own boat and blowing on its sail. 

 

Reblog this post [with Zemanta]
Advertisements

Responses

  1. But if you cut government, then there’s less!

    NOOOOOO WE NEED MOAR GOVERNMENT!

    MOAR GOVERNMENT!

    ===

    Kidding aside, there needs to be serious cuts in government. Not just $100 million…I can’t even call that a start.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: