Jim Demint owns and destroys tax cheat Tim Geithner

Whats the exit strategy Timmy? “That’s hard to say right now,” is the only reply Geithner could muster when Jim Demint questioned him. Here’s the complete exchange from the Washington Post:

GOP Senator Hammers Geithner

11:29 A.M.: Geithner was hammered by a Republican senator decrying Treasury’s growing power over the American economy.

“This is not mission-creep,” said Sen. Jim DeMint (R-S.C.). “This is a stampede of any traditional understanding of constitutional boundaries.”

DeMint called Geithner the chief executive of the American economy. And he didn’t mean it in a good way.

DeMint complained that “we hear very little talk about exit strategies.” He asked Geithner how much of the $700 billion government bailout will be returned to Treasury’s general fund within five to six years.

“That’s hard to say right now,” Geithner said, deflecting: “If we are successful, that money will come back with substantial interest.”

Geithner added that the way the bailout was designed, for each $1 that is paid back, $1 can be lent back out.

“So it’s your understanding that you have $700 billion to use permanently as you see fit?” DeMint asked incredulously.

Geithner wouldn’t take the bait. “I’m not quite sure ‘permanently’ is right,” he said.

BTW, anyone remember the movie BASEketball? Doesn’t tax cheat Geithner look a little like Squeak Scolari?

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May 20, 2009 · Filed Under Porkulus, Tax Cheats, Tim Geithner


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