Geithner warns of 'catastrophic' consequences if GOP blocks debt limit increase

Original Article: http://abcnews.go.com/Politics/geithner-congress-raise-debt-ceiling/story?id=...

Sahil Kapur
Raw Story
April 18, 2011

Treasury Secretary Tim Geithner said Sunday that it'd be "catastrophic" if Congress fails to increase the debt limit, as Republican leaders are threatening to do if spending is not also tamed.

"We know that the risk would be catastrophic," Geithner said on ABC's "This Week," warning party leaders not to "play politics with this."

"If you take it too close to the edge, then people will start to wonder, really, what are we doing, what are we thinking," he said, predicting that Congress will increase the ceiling in time.

Watch Geithner's appearance, via ABC News.

Category:

News & Politics

Tags:

• federal
• reserve
• timothy
• geithner
• financial
• collapse
• fed
• fiat
• currency
• money
• masters
• terrorism
• ABC

[PalmBeachSOS]

as soon as the debt ceiling is raised and the money spent ...the dollar and euro will crash.. we dont have to be visionaries or be as smart as Bernanke.... lol...

[PalmBeachSOS]

the economy is going down the toilett... keep your gold coins and passport in pocket

[h2opower]

This guy is in on the con, how could he possibly be trusted to do anything that is right. This is a threat aimed towards "We The People". He is threating us with hard times if we don't play our role as slaves and roll over and play dead on cue. What we need to do is clear and simple put an end to the FED bank and fractional banking practices, make them step up to the table with real money not money from thin air. That is the only way to fix all of this mess.

[tuksonrider]

When you can't make your house payments, you don't refinance your house.

[LisaFrank107]

Timothy Geithner is telling us what would happen if there is another recession when he is one of those at Goldman Sachs that got us into this mess. Yes, I believe every word that he says. What a jerk.

[escoloco1]

lets not pay our taxes no more i bet we can make change

[GypsieMedia]

"...Permanent devastating damage on our credit rating as a country." Credit ratings are related to economics and economics are a contrived pseudo-science with no relevance to the real world. If all the banks disappeared tomorrow, life would go on. So when he says that it would result in permanent devastating damage, he's talking about damage to the top 1% and those with the highest stake in the continuation of the monetary system.

[andeporter]

This guys body language and facial expressions scream liar, liar! End the fed, problem solved.

[mbealrocks]

pile of shit

[blackheartsbirth]

fuck you geithner, I hope a fucking plane lands on your face! haha