Snort: Geithner Wants “Decisive Signal” On European Debt

Starting off the day with some humorous talk from a guy who isn’t capable of using TurboTax correctly, and whose boss has racked up 4 trillion in debt in two years

US Treasury Secretary Timothy Geithner has called on European leaders at the G20 in Washington to send a “decisive signal” that they have a strategy for tackling the debt crisis.

Mr Geithner said there had been an erosion of confidence and that there was a “huge premium” on early action.

But he added he was confident that Europe would do what was necessary.

Perhaps Geithner should speak to his boss first regarding the US debt. Or, maybe he has, and is sick to death of hearing Obama parrot the phrase “raise taxes, raise taxes. Obama want a cracker”.

“The most important thing that needs to happen now is to see a more decisive signal from the European leaders, that they have a strategy that can restore confidence in their will to assault this,” he said.

Speaking to Martin Wolf for a forthcoming Radio Four documentary, Mr Geithner said that it was important to see fast action.

“These things have the classic dynamic that the longer you wait, the harder it is to solve, the more expensive it is to solve. There’s a huge premium on early action.”

So, why has the Democrat Party and (NM)President Obama waited so long? Why did the Democrats freak out and vote against a $1 billion reduction to “green” energy programs.

Mr Geithner acknowledged that the US was not blameless in the crisis.

“We’re hardly in a position to cast aspersions on the quality of political action you’re seeing around the world because our politics are so difficult.

“And of course we did a lot of damage to the world in the early stages of the crisis, but we also responded with force and alacrity,” he said.

We responded by spending spending spending. And then the Democrats ignored the debt by spending even more. With a side dish of spending. But, of course, Geithner is blaming Bush, and forgetting which Party held Congress.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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