Wednesday, February 22, 2012

Obama Economics, Part 2

Treasury Secretary Tim Geithner testified to the House Budget Committee last Thursday that the Obama Administration had no answer to the nation's long-term budget problem. The article I saw that reported this little nugget also showed a White House chart that demonstrates that Obama and White House statements -- that Obama's budget bends the debt curve over -- are false. White House statements disproven by a White House chart.

Committee Chair Paul Ryan had a similar chart that showed US debt passing 900% of GDP by about 2080.

Geithner took some offense, producing the following exchange.

GEITHNER: You could have taken [the chart] out [to the year] 3000 or to 4000. [Laughs]

RYAN: Yeah, right. We cut it off at the end of the century because the economy, according to the CBO, shuts down in 2027 on this path.

It's really looking like Barack Obama and his Administration are actively trying to destroy this country.

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