Geithner On Treasury Department’s Backup Plan For Failure To Raise Debt Ceiling: We Don’t Have One…
Leadership in action.
(Briefing Room) — Treasury Secretary Timothy Geithner said Monday there is no backup plan if Congress does not raise the debt ceiling, but expressed optimism that talks were moving towards a deal.
“Our plan has been — and it’s the only plan available — is for Congress to act,” he said Monday on CNBC. “Their plan and our plan is for Congress to raise the debt limit.”
Geithner, who said he spent both days of the past weekend, “all day,” at the White House, said that “despite what you hear . . . people are moving closer to together” in debt-ceiling negotiations.
He said that leadership of both parties has taken default “definitively off the table.”
Geithner praised Senate Minority Leader Mitch McConnell’s (R-Ky.) recent fallback proposal to raise the debt limit as a means to avoid default by “making sure the politics can’t stand in the way of very sensible fiscal reforms.”
Posted by ZIP on Monday, July 18, 2011, at 1:20 pm | 
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Nothing like no plan B if plan A goes wrong. An inspiration and a role model for us all.
Sure they do-Blame Bush….0
“Don’t Call My Bluff!”
Rinos are folding like a two dollar suitcase.
little timmy the tax cheat is one of obama’s band of liars theives and whores. you will have to decide which one he is.
Ya mean Democrats did all this spending without an “exit strategy”?
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Timma, Timma, Timma……didn’t your mother ever teach not to put all your eggs in one basket? And didn’t you father ever teach you to always have a backup plan, a plan B, an alternative escape route?
“Never let a crisis go to waste.”
- Rahm Emmanuel
I’d like to see a breakdown of our $14 trillion dollar debt.
How much is paying for liberal programs, and how much for conservative programs?
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Every time I see this piece of shit I have Keebler elf nightmares.
I find this to be incredibly stupid if it is true. Probably dangerous if its true. And demonstrates the incompetence of the people at the highest levels if its true.
Would you not expect a series of alternatives to have been developed, evaluated and in place should the ceiling not be raised?
Would you not have started the process globally in the financial community to explain the steps in play to deal with the issue if congress does not raise it?
Would you not have made those contacts thorough treasury and the fed to contain any adverse reaction?
This is not a jab because he is Obama’s guy, its a very real fear that regardless, R or D, if we have elevated people to this level who are this grossly incompetent we are more screwed than I thought.
The general plan is to fail and it that does not work they will do nothing and it will still lead to failure. That is the communist goal to blame failure on another group.
I have a very warm feeling inside bout our administration.
Jimmmmmaaaaaaaaaaaaaaa is looking real good right about now and he is no longer the worst ever.
this guy has been caught with his hand in the cookie jar. Get him out of there and fully investigate his sorry ass.
So the liberal regime knows whats wrong, but they have no idea of whats right?
If the White House knew they didn’t have a backup plan, and they didn’t tell anyone until now, then who is holding who hostage?
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And he receives a check because…………..certainly not for doing his job……..
This gang is beyond corrupt. Who could’ve imagined confirming a TREASURY secretary who didn’t pay his own taxes.
As for Timmeh’s dad, he was just another run-of-the mill commie who knew and worked with Stanley Ann back in their Indonesia days. Billy Ayres’ dad was one of their buds too. All of these dirtbags were plotting a generation ago, and now their putrid offspring are following through on their ’60s hippie dreams.
Remember Obama’s quiet, low-key grandparents he lived with in Hawaii? Nah, not so much.
http://bit.ly/pSeyOM
Here’s our crisis!
Don’t let it go to waste.
Here’s the balanced budget amendment, you need not sign it as it is a Constitutional Amendment, and here’s the CCB, that, you shall sign..
Its the claw! The CLAW!
(look at the pic, think Liar Liar)
@Shadowblitz70:Obamamania runnin’ wild
Rodger, if it is true??? You are kidding right?
Bittercling….very interesting about Geithner’s dad.
New one I hadn’t heard. It is really amazing how all these people pulled this off. Tangled web. Harry Reid was the one that asked barry to run? Didn’t know that one either.
what a friggin dork.
Axel-the whole lot of them are communists. Geithners goal is to help the fraud take America down. yes,I read his dad spent time with all the commies.
I am so glad this administration knows what they are doing at all times.