Bloomberg News’ Al Hunt sat down with our favorite Turbo Tax expert and Treasury Secretary Timothy Geithner for his thoughts on the fiscal cliff and the debt ceiling negotiations in Congress.

When Hunt asked whether the US should get rid of the debt ceiling altogether so that Congress can spend to infinity and the Treasury and Fed can counterfeit to infinity, Geithner responded: “Absolutely”.

  1. We can get behind this if we all get a universal no-limit credit card without any need for repayment.
    What’s that?  We must remit the principle and interest, too? 
    Guess not, Tim.  Go fish.
     

  2. The USSA government declared financial and sanction war against Iran amongst other countries. Their methods are well known.  It occurs to me they are  using many of the  similar tactics against we, the people. 
    Debasing the currency,sanctions on our personal activities, monstrously grotesque man handling of our bodies for no explicit reason, restrictions on buying items legal in other countries, suveilling the citizenry by illegal phone taps, internet scanning and drones.  Currency controls  rampant with FBAR, FinCen and other restrictions (try to open a foreign bank account). Banks rule the land and rule of law is nonexistent.  Government’s heavy handed regulations and tax policies impoverish the job creators and make peasants of all us.  Makes me go Hmmmmm
    It makes me wonder who the terrorist are.  Our government and its cronies. Some folks overseas who are really tired of us interferring with their sovereinty or just us Ordinary Joes and Janes.  Me thinks it’s the government.
    Timmmmay, Ben and Obama head up my persons of interest in the world of terrorist

    • The citizens will only take so much more of this, when they can’t eat out every night and buy the latest and greatest tech crap fad they will start to wake up and the pitchforks will come out. Some of those pitchforks are organized and sharp.

    • I’ve lost a big part of my trust to the government because of our countries’ situations while the government is doing nothing but make them worst. Even kids of my age lost some trust to the government because all prices keep going up even if they don’t know the reasons for that.

  3. From his Keynesian point of view Geithner is absolutely correct.  To keep the current debt based money system going more money and credit is required.  If Congress does not vote to raise the debt ceiling, then the PTB in the Treasury will do it anyways with some clandestine work-around. It’s that important to them.
    However, the stage has already been set for the debt ceiling to be raised with little to no fanfare.  The election results are in and the status quo won.  It’s a mandate don’t you know.

  4. Like always, so that the Federal Reserve can do QE to infinity and BEYOND! Actually, the Fed already admitted publicly that it will do QE to infinity and beyond. Because of that, it is guaranteed that hyperinflation will arrive soon in the USA and then, the US dollar will collapse.

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