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Treasury Secretary Tim “Elrond” Geithner: Lift Debt Limit to Infinity

Home - by - November 19, 2012 - 22:08 America/New_York - 14 Comments

CNS News

Treasury Secretary Timothy Geithner said Friday that Congress should stop placing legal limits on the amount of money the government can borrow and effectively lift the debt limit to infinity.

On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”

“Oh, absolutely,” Geithner said.

“You do?  Will you propose that?” Hunt asked.

“Well, this is something only Congress can solve,” Geithner said. “Congress put it on itself. We’ve had 100 years of experience with it, and I think only once–last summer–did people decide to use it to threaten default on the American credit for the first time in history as a tool for political advantage.  And that’s not a tenable strategy.”

Hunt then asked: “Is now the time to eliminate it?”

“It would have been time a long time ago to eliminate it,” Geithner said. “The sooner the better.”

 

read more, and see the stupid in motion.

» 14 Comments

  1. old_oaks

    November 19th, 2012

    I’m all for it!

    The sooner we derail, the sooner we fix the track.

    Thumb up +5

     
  2. Ann Barnhardt

    November 19th, 2012

    Floor it. Bring the pain. Bring it now.

    Thumb up +6

     
  3. Nutjob

    November 19th, 2012

    We’ve had 100 years of experience with it, and I think only once–last summer–did people decide to use it to threaten default on the American credit for the first time in history as a tool for political advantage. And that’s not a tenable strategy.”

    But unlimited debt is a sound economic strategy….are you freaking kidding me?
    I need to pour a drink, I can’t read this stupidity straight, maybe drunk I might start getting an idea on how these twisted math illiterate morons think.

    and on a 2nd note Timmy, its worked for hundreds of years because we paid the debt, and kept down spending.

    So whats next Timmy eliminating bankruptcy? Nobody owes anything, no one can collect a debt, and you can spend everyday forever….is this how it works in Choomland?

    Thumb up +4

     
  4. Rick

    November 19th, 2012

    Hmmmm. Following this line of thinking, without a budget, there isn’t much point of having a Treasury Secretary is there?

    Clean out your desk Timmy.

    Thumb up +9

     
  5. J Frank Parnell

    November 19th, 2012

    TIMMY!

    Thumb up +3

     
  6. grayscape

    November 19th, 2012

    What a fukin genius!! Let’s do what Zimbabwe did. And Weimar Germany….that worked out pretty good.

    Thumb up +5

     
  7. Bad Brad

    November 19th, 2012

    I don’t always agree with Ann, but in this case, lets get the party started. Watch for the rebirth of the carpet baggers.

    Thumb up +3

     
  8. Nutjob

    November 19th, 2012

    I did it, it took me a few drinks, but I just solved everyones fiscal crisis.

    You get into debt, spend more.
    Credits card maxed, tell them eliminate the credit cieling.
    Bounced checks, no problem, tell the bank to ramp up production and print more checks.
    We can even save billions by elimnating bankruptcy, bankruptcy judges and bankruptcy attornies which will pay for the additional spending.
    So when someone files bankruptcy, we just give them more money and credit….problem solved.

    Dam, Geitners a freaking genius. Had we used Turbo Timmys magic math before the economy collapsed, the overextended companies would still be in business, we’d just eliminate their debt via the debt cieling and print more money.

    Thumb up +4

     
  9. Bad Brad

    November 19th, 2012

    Has anybody ever come to the realization that the kids you knew in school that were that outcasts and social dregs are now in power and telling us what to do. They are extracting their revenge on us. Tell me Geitner didn’t get his ass kicked daily in school.

    Thumb up +8

     
  10. Nutjob

    November 20th, 2012

    This is what happens when universities allow cheating and other students to take each others test.
    You get people like Geitner with a degree making stupid decisions from not paying attention or studying basic math.

    Thumb up +4

     
  11. Bad Brad

    November 20th, 2012

    Nutjob, It’s our fault. Somebody didn’t beat his dumb ass quite hard enough. Which is self evident, that feminine face is way to pretty. I bet that fucker moisturizes.

    Thumb up +4

     
  12. Nutjob

    November 20th, 2012

    and to think, at times I stepped in and defended these shitstains from getting their asses beat in high school……what a dumbass I was, your right Brad it is our fault.

    Thumb up +4

     
  13. Bad Brad

    November 20th, 2012

    Nutjob, I stepped in too. But I now recognize their personality traits. The whole damn administration is like misfits r us. Barry, Gietner, Goolsbe, Axlerod, Holder, Biden, Gibbs. All pussy nerds. I rest my case. It’s the fing Nerd Admin. And their getting even.

    Thumb up +4

     
  14. Claudia

    November 20th, 2012

    They aren’t true nerds. Nerds are smart. And funny. I like nerds.

    These guys are like fake nerds. They would even get beat up by the true nerds.

    They are a whole new category; maybe even species.

    Ummmm…

    Thumb up 0