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Saturday, November 21, 2009

Geithner Savaged On Unemployment During Fiery Capitol Hill Hearing

Congressman Michael Burgess scalded Treasury Secretary Tim Geithner during a fiery hearing on Capitol Hill this morning, telling the former New York Fed chief that he should never have been hired and demanding that the TARP program come to an abrupt end, shortly after GOP Rep. Kevin Brady had called on Geithner to resign.

“The public has lost all confidence in your ability to do the job,” Brady told Geithner during a heated Joint Economic Committee meeting, adding that he had failed to oversee an economic recovery before asking Geithner, “Will you step down from your post?”

Geithner responded by claiming that confidence in the economy was substantially stronger than before Obama took office, to which Brady responded, “Tell all of that to the millions of American who no longer have jobs because of your decisions,” adding, “At some point you have to take some responsibility for your decisions.”

“This is your budget! This is your bailout”, shouted Brady.

Obama pledged to create 3.5 million new jobs by 2010, however, with unemployment running at 10.2 per cent, and with 3.5 million jobs lost, the Obama jobs deficit stands at over 7 million.

Shortly after the fracas, Rep. Michael Burgess confronted Geithner on how TARP funds were used to bail out banks in Europe while the American people suffered with spiraling mortgage defaults and unemployment.

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Anonymous said...

If he resigns, will he be asked to pay penalties on his unpaid back taxes as other citizens are?

I think I know the answer.

Anonymous said...

He is another failure of this Administration and needs to step down and let someone else try !

smitty240 said...

Ahhhh, the hounds are baying at the door. Congress is starting to recognize this administration for the sham that it is. Anyone want to guess why? That's right, 2010 elections. The campaigning is starting right on Capitol Hill as the congress critters on both sides of the aisle try to gain some public support by throwing the food scraps to the hounds.

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