WASHINGTON – 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..."
Lambert went ballistic on this one:
...Check the spin on "unfairly."
Translation: The average American is going to have more burdens. But fair burdens!
We're already on the hook to these guys for a $22 trillion bailout, which they're not lending to us, while paying us back our own money by jacking up our own credit card fees, and paying themselves billions of dollars with our own money.
Jeebus, if I could work a scam like that, I'd give myself a big fat bonus too! That would be fair!
The sad facts are the Russians are right.
Although they're talking about a completely different set of issues, the operators of the $ystem have the same styles.
...real events take place far from view, among a handful of powerful individuals, and ...public politics are “no more than puppetry, decoration in the theater.”
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