Congrats To The Left And The Obama Administration: It Only Took You 18 Months To Destoy The American Economy
(BBC)- US Treasury Secretary Timothy Geithner has told the BBC that the world “cannot depend as much on the US as it did in the past”.
He said that other major economies would have to grow more for the global economy to prosper.
He also played down any differences in policy between the US and Europe regarding deficit reduction.
Mr Geithner was speaking in Washington ahead of G8 and G20 meetings this weekend in Toronto.
The Group of Eight and Group of 20 rich and developing nations are assembling on Friday for three days of talks on emerging from the worst financial crisis since the Great Depression.
7 comments:
The goal all along of this administration!
Yeah, they drove the fucking deficit so high now the GOP formed phalanx and would not pass an extension on unemployment comp, afraid to addd 30 billion to the 13 trillion.
So tell me dear libs, in this so called recovering economy, what the fuck are you going to do when 5 million people run out of benefits at the end of July and can no longer pay their mortgages and begin defaulting on them. What the fuck's that going to do to your fucking recovery.
They passed Obamacare which they could not fund and it has scared the GOP silly so that they are afraid of any deficit spending at all.
And I resent to high heaven the fucking notion that people out on u.c. want to stay out for an extended gov't paid vacation. Some yes, but not all.
Don't mind me. I'm just fucking cranky.
Yeah, what man would want a second year of making sandwiches?
EXACTLY!
the GOP is Being Simply Obstructionist.. they simply fear the Democrats will fix the Shit storm they created.. making them look bad....aahh worse. the GOP doubled the national debt in 8 years.. the UI passed 57 to 41.. but it's rigged by the minority, formerly knowh as overthrowing the government.
Iraq is a needless war, there was no reason to invade. that stupid war will cost 3 trillion minimum, not counting the cost of long term treatment of our soldiers, the cost of that war was never factored into the budget.
the Deficet..different from the Debt.. it causes the debt, buying more foreign goods than we sell because those goods are made by factories we sent off shore, the lost jobs are a major factor inflaming the deficit.. we lost 2.7 million jobs to foreign crony dictators 1n 8 years of Bu$h43. the off shore private owned ICE hedge funds raised the price of gas over $200 a barrel, which actually cost $24, GOP approved looting, gouging the taxpayers again, putting mant small buisness out of buisness as planned
the Health Insurance Reform that passed is not health care reform.
the program is said buy the GAO t save 1.2 trillion dollars in 10 years. it was designed to keep he insurance companies from looting the tax payers, and providing health care to people who cant get insurance, their problems fester and end up costing 100's of times more in the long run. 40,000 a year die..
the reason the states are going broke, laying off teachers, etc is because of the lack of jobs sent off shore.. few taxes are now coming in.. property taxes are not comming in
The GOP NeoCons are known in highest military levels as the "Utopians" ..they believe that if they can "cut taxes an shrink the size of government down small enough to drag into a bath tub and drown it.." that a,-free trade, trickle down- "Utopia will rise out of it's ashes." i heard that said over and over in Reagan's administration,.. damn, Bush41's and Bush43's presidential Cabinet was occupied by the very sane NeoCons..!! most of them studied under Leo Strauss at the U of Chicago.
well folks.. their job is nearly done.. enjoy,
MR,
what the fuck are you going to do when 5 million people run out of benefits at the end of July and can no longer pay their mortgages and begin defaulting on them
We're nowhere near the bottom of this "recession," which should have been called a depression in the first place.
This administration's so-called mortgage modification is a consummate failure. Foreclosures are happening all over.
This will be the Greater Depression before it's over.
Unlike many who bought houses they couldn't afford to begin with, when my wife and I both had our previous jobs paying our 2 mortgages was not a oproblem. We weren't getting rich but we were okay eating well abloe to go out and enjoy life etc.
Then she lost her job and was out for 11 months and we still were able to pay the bills although nights out were bit fewer but still existed.
She was back to work and three months later I lost my job. That was 10 months ago now and I'm still out.
I've had mortgages for 25 years one place or another and have never (intentionally) missed a payment.
So when a month and a half ago I saw how bad it was getting here I called Citimortgage and started the mortgage modification enrollment process. I have already experienced the lost paperwork issue.
And so, for the first time in my 30 years of working life I cannot pay my bills. And this is a horrible and depressing feeling. I have no idea what I'm going to do.
I'd rather just find a job and pay my fucking bills as is. But the jobs aren't there. And for a guy my age at the salary requirements I have IF they're hiring they'll hire someone younger with less experience who will do the job cheaper. I can't even find a job working at a market stand (that's how desparate this telecom professional has become).
And worst of all, in both our cases it wasn't the economy that caused us to loe our jobs. For my wife it was a case of serious nepotism by one of the board directors (his granddaughter wound up in her job) and in my case it was pure political corporate revenge by a vp.
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