Paul Ryan Tim Geithner Video: No Decline in Obama Budget – No Investor Confidence in America

Incredible exchange in the video below between Congressman Paul Ryan (R-WI) and Treasury Secretary ‘Tax-Cheat’ Tim Geithner. First, while Ryan’s remarks about “confidence” may be easily overlooked, he is saying that the chart below will sink America based on a lack of confidence for investers, if nothing else. The crux of the conversation begins at 2012 on the first graphic, with a slight decrease (a false, phony decrease – a lie) up to about 2020 when the steep climb to doom begins again. Both Geithner and Ryan agree that the ‘climb’ is due to either “ten thousand” or “millions” of people retiring everyday, with their health care costs skyrocketing out to 2084. After a lot of double-speak from Geither, who is reminded by Ryan that he is the Treasury Secretary [for Pete’s sake] and that “leaders are supposed to fix problems,” Ryan says “you are showing that you have no plan to get this debt under control.” Ryan makes it clear that the Government is lying to the American people. Geithner, in the end says, “what we do know is, we don’t like yours [GOP plan]. Don’t miss the first comment by Ryan below.

Obama's 2013 Budget Trajectory

Partial video transcript:

[RYAN] If we can’t make good on our bonds in the future, who is going to invest in our country? We do not want to have a debt crisis, and so it comes down to confidence in trajectory. Do we have confidence that we are getting our fiscal situation under control, that we are preventing the debt from getting to these catastrophic levels [in your chart]. “You are showing that you have no plan to get this debt under control.” You are saying that we are going to stabilize it, but then it is just going to shoot back up, and so my argument is that is Europe. That is bringing us toward a European debt crisis, because we are showing the world – credit markets, future Seniors who are organizing their lives on the promises that are being made to them today, we don’t have a plan to make good on this…

[GEITHNER] Mr. Chairman…maybe we are not disagreeing in the sense that I made it absolutely clear that what our budget does is get our debtdown to a sustainable path over the budget window…You were right to say we are not coming before you today to say we have a definitive long term problem. What we do know is, we don’t like yours.

The plan that Geither and Obama do not like, is this one from the Ryan plans showing the “path to prosperity:

Ryan/Republican Budget - The Path to Prosperity

If you are resting on the supposed fact that, at least, the budget gets better for a few years, consider this from James Pethokoukis at The Enterprise Blog, (and in addition to the following, he says the debt line doesn’t really bend downward as shown in the first chart above released by the White House):

Despite $1.7 trillion in tax increases, debt as a share of GDP—already at a historically high level—actually ticks up a bit to 76.5 percent from 67.7 percent in 2011 and 74.2 percent in 2012.

These people are hijacking the future of your loved ones. Lying SOB’s who will tell you anything to keep spending, because after all, they’ve got their now, and they won’t be around to blame when it hits the fan. Thanks to Doug Ross

Tim Geithner and Paul Ryan on Obama’s 2013 Budget Trajectory (video)

Posted by Maggie @ Maggie’s Notebook

  • This is what you get when you have a guy running the Treasury who can’t even fill out his own taxes correctly.. It’s like someone came to me.. the worst accountant ever.. and said.. Dave we want you to control the largest economy in the world.. Dude… lol
    This man and the people who put him in office should be fired… oops… that’s what we are about to do.. Never mind..

  • Oh.. one more thing.. we’d better fire this bunch or we are done.

  • Julie

    It would be interesting to analyze the european union from this aspect, too. I think there are much more difficult problems, the investors have lost their trust in the european countries. Some of the countries are almost bankrupted.