Why didn’t the Democrats pass a budget when they were supposed to? The budget deadline was right before the last election you know.
Now, the administration is politicking our economy again. When Geithner appeared on Fox News Sunday, on July 24th, he said, twice, “Chris, let me tell you what we’re trying to do, what the president is trying to do, is, first and most important, we have to lift this threat of default from the economy for, you know, for the next 18 months. We have to take that threat off the table through the election….”
Eighteen months (and the 2.4 trillion requested debt ceiling increase) takes Obama safely past the 2012 election. As many Republicans have said, this debt ceiling solution rests on Obama’s re-election needs.
Obama’s people are saying the 18 months is to make headway with the ratings agencies. The ratings agencies, however, have said they want to see a $4 trillion cut and they have said nothing about an 18 month timeline.
This video is Fox News Sunday, July 24th, with Timothy Geithner. He repeatedly says Obama’s vague nonplan would take default off the table. Meanwhile, the President has reassured Wall Street and the banks that default is not going to happen.
In this video, Geithner is unable to defend the Obama budget which failed to win even Democrats.