Obama Has No Plan To Stop Deficit Spending
A while ago Treasury Secretary Tim Geithner revealed in testimony before Congress, specifically the House Budget Committee and its chairman Rep. Paul Ryan, that the Obama administration had no long term plan for deficit and debt reduction. “We’re not becoming before you to say we have a definitive solution to our long-term [deficit] problem,” Geithner said to Ryan. “What we do know is that we don’t like yours.”
As further proof of the fact that the Obama administration has no long-term plans for fiscal responsibility, Geithner was asked by Rep. Trey Gowdy what amount Congress would have to raise the debt ceiling by in order to ensure that no more hikes in the ceiling were necessary. Geithner didn’t care to offer a number, but when pressed told Gowdy “It would be a lot. It would make you uncomfortable.”
In other words, we’re just going to keep deficit spending in perpetuity, according to the Obama administration anyway. Which is actually what they’ve budgeted for, according to this graph comparing the national debt under the Obama budget to national debt under the Ryan budget:
Hope for change.
Tags: deficits, national debt, paul ryan, tim geithner, trey gowdy
