Treasury Secretary Geithner: Lift Debt Limit to Infinity

[shira]

http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity



I think we can extrapolate from this where the next 4 years will take us!

No. What I think we can infer from this is that Geithner believes that the economy should not be held hostage to politics.

 

[Svnla]

This is a terrible idea, and will give congress a green light to keep avoiding any hard choices.

In the short term maybe we do need to run deficits, because it's not possible to cut enough fast enough without triggering another recession.

Long term we need to cut spending, increase revenue, and live within our means.

Totally agree with your last sentence.

But we all know that will not happen for now. The AARP is running ads on TV (at least around here) and say how they want to keep everything (benefits) the same. We all know that if nothing is done, sooner and not later, the whole thing (SS, medicare/aid, other benefit programs for the elders) could not maintain their status quo.