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"BIG BRAIN" GEITHNER "MAYBE" WANTS OUT AFTER OVERSEEING THE LARGEST DEBT INCREASE IN HISTORY OF THIS COUNTRY
I’VE HAD THE FEELING I’M GETTING "SERVICED" EVER SINCE THIS ADMINISTRATION CAME TO OFFICE ……………………
THANKS TIM…..FOR HELPING TO ORCHESTRATE THE DOWNFALL OF THE U.S. ECONOMY ……………………….YOU PINHEADED THINK TANK COLLEGE PROFESSOR JACKASS
CNSNews.com) – Treasury Secretary Timothy Geithner oversaw the largest increase in the national debt of any Treasury secretary in American history, presiding over a $3.7 trillion increase in the debt.
According to data from the Treasury Department’s Bureau of the Public Debt, the national debt has increased $3,723,575,990,130.10 from Jan. 26, 2009 until June 30, 2011, Geithner’s entire tenure to date as Treasury secretary.
When Geithner took office the total national debt stood at $10.6 trillion. As of June 30, 2011, it had risen to $14.3 trillion.
In fact, the debt accrued under Geithner is greater than all federal debt accrued in the first 204 years of the nation’s history. The national debt did not reach $3.7 trillion until October 1991, according to historical Treasury data that reaches back to 1791.
Geithner, who reportedly may step down from his position soon, has overseen the accrual of more federal debt (in only 2.5 years) than every Treasury secretary combined from Alexander Hamilton to Nicholas Brady, who was Treasury secretary in October 1991 when the national debt reached $3.7 trillion.
Since then, the federal debt has increased by historically large amounts under each Treasury secretary since Brady but not to the level it is today under Geithner. The debt increases under those secretaries are presented below.
Nicholas Brady (9/15/88-1/17/93): $1,564,862,000,000.00
Lloyd Bentsen (1/20/93-12/22/94): $559,880,257,144.59
Robert Rubin (1/11/95-7/2/99): $815,560,432,731.13
Lawrence Summers (7/2/99-1/20/01): $109,651,004,604.88
Paul O’Neill (1/20/01-12/31/02): $677,930,718,549.89
John Snow (2/3/03-6/30/06): $2,040,609,369,491.81
Henry Paulson (7/10/06-1/20/09): $2,218,644,118,047.16
Geithner to Consider Leaving After Debt Debate
By Hans Nichols – Jun 30, 2011 1:45 PM June 30 (Bloomberg) —
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.
Geithner hasn’t made a final decision and won’t do so until the debt ceiling issue has been resolved, according to one of the people. All spoke on condition of anonymity to talk about private discussions.
The Treasury secretary has said the U.S. risks defaulting on its obligations if Congress doesn’t raise the $14.3 trillion debt ceiling by Aug. 2. The administration and congressional Republicans are at an impasse in negotiations to raise the limit, which also is tied to efforts to cut the nation’s long- term deficit.
Moody’s Investors Service said on June 2 it expects to place the U.S. government’s Aaa credit rating under review for a possible downgrade if there’s no progress on the debt limit by mid-July. Fitch Ratings said June 21 it would place the U.S. on a negative rating watch if no action is taken by Aug. 2.
An exit by Geithner would complete the turnover in Obama’s original economic team, with Council of Economic Advisers Chairman Austan Goolsbee scheduled to leave in early August to return to the University of Chicago.
That would leave Obama with two key posts to fill as Republicans are seeking to turn the 2012 election into a referendum on Obama’s handling of the economy and as the recovery is slowing. The unemployment rate rose to 9.1 percent in May, according to the Labor Department, and the economy grew at a 1.9 percent pace in the first quarter, according to Commerce Department figures released June 24.
Jen Psaki, a White House spokeswoman, declined to comment.
“Geithner leaving may raise the level of uncertainty for the direction of economic policy and that is never a positive thing for the markets and the recovery,” said Christopher Sullivan, who oversees $1.7 billion as chief investment officer at United Nations Federal Credit Union in New York.
Still, he said, it wouldn’t have too much “shock value,” especially if he remains at Treasury until the debt ceiling is settled, “which is the most pressing concern anyone would have.”
Geithner, 49, has told associates he needs a break from government service
THE RAINBOW NEWSPAPER – PAGE 4
From the outset, I should like to express my sincere gratitude to management of the local MAP team for affording me this privilege to address you this morning. First of all, I want to remind you just what privileged individuals you all are. By being pressmen and women you belong to that group of men and women that is made noble by what they do. Yours is a calling that represents a grand lifetime opportunity to serve humanity. You have the power to shoo humanity away from harm and usher it towards the requisite development. Yours is an occupation that demands sobriety of mind, keenness of thought, diligence, the ability to go against the wind for the sake of righteousness and the perseverance on an issue that comes only with an acute awareness of one’s objectivity. You must always be inspired by a passionate immersion of your journalistic minds in fact and truth. These are your Teflon jackets that will ensure that harm or shame does not come your way. And should harm come your way, it will elevate you to such heights before the eyes of man that you might become a deity.
Always respect that remarkable spirit of African tolerance that allows even the fool to heard. Even a lie well told as an accurate quote from your source makes for excellent journalism. But should your task of the day be the reflection of truth, note that the truth cannot be told any other way other than the truthful one.
Further, I am happy to note that that the MAP, which is a aggregation of various media entities, through its activities, augments other national efforts in strengthening Zambia’s advance towards development in general and towards the eradication of HIV/Aids from our midst in particular.
Note that I say eradication of HIV/Aids deliberately as a goal because falling short of that might be synonymous with burying our heads in the sand, of leaving the battlefront with the mistaken notion that the war has been won when the truth argues otherwise.
I must inform you that the MAP, like many other such entities, is a necessary fixture in the life of any nation. Never be cowered by or shun away from peddling fact, truth and objectivity when they offend this individual or that institution. Yours is a profession that has the power to control minds.
Always remember that it is difficult for one to hold an opinion that is against one’s own. For this reason, you must be ardent and fierce advocates of the legislation for dissent and dissenters. Commonly, it is because we hold different views on an issue that enlightenment dawns and consensus is built. There can be no development without dissent. The unity that results from different views is often stronger than each individual’s view. Dissent is a vital and indispensable ingredient of human advancement. Dissenters ought to be encouraged and protected by law.
Always ask questions. Be inquisitive. Yours is not a profession of parrotry. Oftentimes, I come across reporters whose lack of curiosity scares me. I get the impression that the future is not in safe hands by their behaviour. It is that kind of behaviour that betrays lack of critical fundamentals in the reporter which task really is that of the employer to weed the profession of such charlatans. Prove to your employers that you are worthy of their company. Editors, please do not pass copy that insults the intelligence of the reader.
We must all always seek to add value to ourselves and those that we serve, to strive to be assets for humanity.
Ask questions. Questions such as what mathematical model or epidemiological pattern of spread explains why HIV/Aids, which was not first seen in Africa, to now be domiciled in Southern Africa? What is HIV?
For it is only when we fully understand what we are up against that we will be best equipped to succeed. Any worthy General will tell you that an investment in studying and understanding the enemy represents a battle nearly won.
Ask why some people never develop AIDS despite having HIV? Ask about the value of nutrition in containing HIV.
Ask about the sustainability of an undertaking of having hundreds of thousands of people on drugs that they take for a lifetime? Also inquire about the sovereignty of such a people when such consumption is not locally financed. Ask questions, ladies and gentlemen. Ask why, as a country, we are not making ARVs despite having the capacity to do so. Why should pre-qualification of drugs take forever to do? Why is there paucity of research on traditional medicines?
When success has been scored also reflect that. It is through such news-casting that you will ensure peace of mind of communities, give them the perception that not all is gloom, and subsequently create models of behaviour to be emulated. Not all news ought to be negative. And please never sacrifice c