Geithner: A Strong Dollar is a Priority
Listen, Timmy, I'm going to let you in on a little secret. Come close. No, closer. Come on, if you aren't the Treasury rat that I see on JDA every single day then I'm not sure who is but hopefully if it isn't you, your little junior Treasury rat is sending over my insight. You need it, homie, and I'm just here to help. Your game needs some work and Jr Deputy Accountant is all about trying to help, you diabolical little prick you.
Treasury Secretary Timothy Geithner said on Thursday that a strong dollar was very important to the United States and the rest of the world needs to be convinced Americans will be more thrifty in future.
"A strong dollar is very important to this country, I mean that, and it's very important that people recognize it," he told a news forum at the Newseum in downtown Washington.
Speaking just before departing for Istanbul, Turkey, for a Group of Seven finance ministers' meeting, Geithner said the dollar's "exceptional" role in the global financial system invests the United States with extra responsibility.
Questions have been raised about whether the world will be willing to keep financing huge American debts forever or whether they might seek an alternate reserve currency.
Geithner made clear, in response to questions, that he was aware of the debate and of the importance of persuading others that the United States was willing to take measures to preserve the currency's value.
"It does bring special responsibilities and burdens on the United States and it's very important that we make not just Americans but make the world understand that we are going to go back to living within our means," he said.
Geithner added, "And we are going to make sure that our independent Federal Reserve keeps inflation low and stable over time...and we are going to run fiscal policy in this country consistent with that basic objective of going back to living within our means."
The U.S. is headed for a record deficit of around $1.8 trillion this year and, according to the Congressional Budget office, an estimated $1.4 trillion deficit in fiscal 2010.
Seriously? Does anyone listen to this asshat anymore?