Giethner Admits We Can't Live with Obama Budget
Even Tim Geithner isn't trying to pretend: what the president proposes for spending is unsustainable.
Sen. Jeff Sessions: “…Under your budget, the interest increases each year. It was $187 billion in 2009, under your proposal it increases to $844 billion”
Treasury Tim Geithner: “Senator, absolutely, it is an excessively high interest burden, it’s unsustainable”
Sessions: “Well it’s your plan. That’s the plan the President submitted.”
Geithner: “You’re absolutely right that with the president’s plan, even if Congress were to enact it, and even if Congress were to hold to it and reduce those deficits to three percent of GDP over the next five years, we would still be left with a very large interest burden and unsustainable obligations over time”
So why do the socialists pretend there's anything wrong with John Boehner's statements about cutting federal jobs?
If you're going to cut the size of the federal government, obviously people are going to lose their jobs. That's a victory for America.