Tim Geithner... Gets Real on Meet the Press? Huh?!
I am reluctantly forced to throw Tim Geithner his first bone - someone write this down, it's Jr Deputy Accountant's very first and probably only instance of giving Tim Geithner credit for being realistic and more importantly real to the American people. He's got a long way to go and this latest appearance is still the same old stuttering scandalous Timmy we know and don't love but I have never seen him be so... real. What gives? Another mission to confuse the shit out of us perhaps?
Treasury Secretary Timothy F. Geithner acknowledged Sunday that the federal deficit was too high but said the priorities now are economic growth and job creation.
Asked repeatedly on “Meet the Press” on NBC whether that meant taxes would rise, Mr. Geithner avoided providing specifics. He did say President Obama is committed to dealing with the deficit in a way that would not add to the tax burden of people making less than $250,000 a year.
The White House has not decided how to reduce the deficit, Mr. Geithner said.
“Right now we’re focused on getting growth back on track,” he said on the Sunday broadcast. He acknowledged that the economic recovery, while positive, has been shaky and uneven.
“A lot of damage was caused by this crisis. It’s going to take some time for us to grow out of this. It could be a little choppy,” he said.
Mr. Geithner said a bright spot in the recovery was the banking system.
Mr. Geithner said that just one year ago, economic activity came to a standstill as major financial institutions shut down because of a lack of liquidity.
Even though 115 banks have failed so far this year, Mr. Geithner said there has been a “dramatic improvement in confidence,” with private capital back in the system. He said large businesses are now able to borrow again.
For example, Geither's first Meet the Press point is on GDP - he could have jerked off over the artificially-inflated number without bothering to mention that GDP was manipulated by crazy Cash for Clunkers numbers if he wanted to, it's not like America would know otherwise. Instead, his answer:
SEC'Y GEITHNER: I think it is a good number. It was--the growth was broad based. It was investment, exports, consumption, housing for the first time. And it shows that, you know, just five months after the president came into office we got growths restarted. But it's just the beginning and we've got a ways to go. Unemployment's high and still rising. This is a very tough economy still for huge numbers of American's businesses, so we've got a ways to go, David.
I don't see any jerk off there, what gives?
Oh wait, nevermind, there he is:
SEC'Y GEITHNER: You know, what the government did was to step in and make sure we're providing the tax cuts and investments necessary to arrest the crisis, get credit markets starting to open up again. And we did that, that plan worked. But we've got a ways to go before...
[DAVID] GREGORY: But that's a big question, whether or not--yes, you have growth for the first time in four quarters. But is any of this growth sustainable without government intervention?
SEC'Y GEITHNER: It will be, it will be. But what the government has to do in a crisis is to provide a bridge until the economy can repair itself and businesses are confident enough to start to invest again. And again, you're starting to see it again. Businesses now, I think they'll say--you talk to people across the country, they'll say that they feel that things are more stable now and for the first time they see orders starting to pick up. And what'll happen is they'll start to invest again, they'll start to bring people back onto their payroll and this will get more momentum.
I would not expect this new, slightly less full of shit Tim Geithner to make the rounds moving forward but it is awfully curious to point out.
What gives, Timmy?