Obama Adminstration Is Lost

Timothy Geithner (the tax cheat) testified last week on Capitol Hill about the 2013 budget. Paul Ryan said: "Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability." That's everything we owe everybody, $99.4 trillion, not a 16 or $17 trillion national debt, but all the promises and all the IOUs, $99.4 trillion unfunded liability.

"Our government is making promises to Americans that it has no way of accounting for them. And so you're saying yeah, we're stabilizing it but we're not fixing it in the long run. That means we're just going to keep lying to people. We're going to keep all these empty promises going. And so what we're saying is, in order to avert a debt crisis -- you're the Treasury Secretary -- if we can't make good on our bonds in the future, who is going to invest in our country?"

Geithner: We're not disagreeing in the sense that I made it absolutely clear that what our budget does is get our deficits down to a sustainable path over the budget --

Ryan: And then they take back off.

Geithner: -- over the budget window. And why, why do they take off again? Why do they do that?

Ryan: Because we've got 10,000 people retiring every day --

Geithner: Right.

Ryan: -- and health care costs going up at --

Geithner: We have millions of Americans retiring every day and that will drive substantial for the rate of growth of health care costs. And so you were right to say we're not coming before you today to say we have a definitive solution to that long-term problem.

Geithner went on to tell Paul Ryan, "We're not, the Obama administration, we're not coming before you today to say we have a definitive solution to the long-term problem.' To Paul Ryan, to the Republicans. he said "What we do know is we don't like yours,"

We don't have a solution, but we don't like yours. Well, wait a minute. What happened to compromise? What happened to working together? What happened to crossing the aisle? You notice how that only goes one way? So here comes Geithner and he says, "We don't have a solution for any of this. But we don't like yours," acknowledging that Ryan and the House Republicans have a solution. But the administration doesn't like it. Why? Because they don't want a solution.

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