Blog Smith: Tim Geithner to Paul Ryan: "We don't have a definitive solution... We just don't like yours"

Friday, February 17, 2012

Tim Geithner to Paul Ryan: "We don't have a definitive solution... We just don't like yours"

Partial video transcript:

[RYAN] If we can’t make good on our bonds in the future, who is going to invest in our country? We do not want to have a debt crisis, and so it comes down to confidence in trajectory. Do we have confidence that we are getting our fiscal situation under control, that we are preventing the debt from getting to these catastrophic levels [in your chart]. “You are showing that you have no plan to get this debt under control.” You are saying that we are going to stabilize it, but then it is just going to shoot back up, and so my argument is that is Europe. That is bringing us toward a European debt crisis, because we are showing the world – credit markets, future Seniors who are organizing their lives on the promises that are being made to them today, we don’t have a plan to make good on this…

[GEITHNER] Mr. Chairman…maybe we are not disagreeing in the sense that I made it absolutely clear that what our budget does is get our debtdown to a sustainable path over the budget window…You were right to say we are not coming before you today to say we have a definitive long term problem. What we do know is, we don’t like yours.

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Virgil, The Aeneid
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VON Magazine: Voice, Video & Vision;
Wall Street Technology: Business Innovation Powered by Technology;
Wallace, Robert, Spycraft: The Secret History of the CIA's Spytechs, from Communism to al-Qaeda;
Wang, Wallace, Steal This Computer Book 4.0: What They Won’t Tell You About the Internet;
Ward-Perkins, The Fall of Rome and the End of Civilization;
Warren, Robert Penn, All the King's Men;
Wasik, John F., Cul-de-Sac Syndrome: Turning Around the Unsustainable American Dream;
Weber, Karl, Editor, Lincoln: A President for the Ages;
Website Magazine: The Magazine for Website Success;
Weiner, Tim, Enemies: A History of the FBI;
Weiner, Tim, Legacy of Ashes: The History of the CIA;
West, Bing, The Strongest Tribe: War, Politics, and the Endgame in Iraq;
Wharton, Edith, The Age of Innocence;
Wilcox, Peter, Rome's Enemies (1) Germanics and Dacians;
Wise, Terence, Armies of the Carthaginian Wars 265 - 146 BC;
Wissner-Gross, What Colleges Don't Tell You (And Other Parents Don't Want You To Know) 272 Secrets For Getting Your Kid Into the Top Schools;
Wissner-Gross, What High Schools Don't Tell You;
Wolf, Naomi, Give Me Liberty: A Handbook for American Revolutionaries;
Wolf, Naomi, The End of America: Letter of Warning to a Young Patriot;
Woodward, Bob, Plan of Attack;
Woodward, Bob, The Agenda: Inside the Clinton White House;
Wright, Lawrence, The Looming Tower: Al-Qaeda and the Road to 9/11;
Wright-Porto, Heather, Beginning Google Blogger;
Xenophon, The Anabasis of Cyrus;
Yergin, Daniel, The Prize: The Epic Quest for Oil, Money, & Power;