Geithner Flashback: “There’s No Chance US Will Lose Top Credit Rating” (Video)

In April Treasury Secretary Timothy Geithner told FOX Business News,
“There’s no chance the US will lose top credit rating.”

Obviously, Timothy Geithner was wrong about this too.

The Hill reported:

Treasury Secretary Tim Geithner said Tuesday there is “no risk” the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to “negative.”

Geithner took to the airwaves of financial news networks to push back against a report Monday by Standard & Poor’s that lowered its outlook on U.S. debt to “negative,” reflecting political uncertainty over whether lawmakers will reach an agreement to address long-term debt.

There is no chance that the U.S. will lose its top credit rating, Geithner said, forcefully disputing the notion that S&P or other ratings services might downgrade U.S. bonds from their current AAA rating.

“No risk of that, no risk,” Geithner said on the Fox Business Network.

Hat Tip Bill Hennessy

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  • toongoon

    Did he use his Turbo Tax software to draw that conclusion?

  • Bob Z

    Just part of the scam.

  • saveus

    he forgot obama’s ability to make things worse

  • arnonerik

    Hey Timmy! If wishes were reality both you and Obama would not be so rightly considered the assasins of our economy, our wealth, and our jobs.

  • bigkahuna

    They should be put in jail for theft. I love Michelle Bachman for standing up and demanding he be fired and the budget balanced

  • moron

    Maybe he was wrong on this one Pubs. But he also stated, borrow another $$trillion, give it to union thugs for retirement benefits so they can continue to fund Hope and Change! You go Timmy.

  • MrGoodWench

    You know Timmy, if you had been the Treasury Sec of Japan,
    and if YOUR actions had brought SHAME to the nation,
    if YOUR decisions had brought pain and suffering to the nation ,
    you know Timmy what you would have done ??

  • gus

    The MIDGET…….CLAIMED.. that he COULD NOT MAKE TURBO TAX WORK.

    And he wanted to be our LATEX SALESMAN??

  • Molon Labe

    Timmy is still bating 1000. But what about the morons who placed him in his position of responsibility? I can’t think of a better reason for strict term limits.

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  • jennifer

    Would it be too much for me to say that the 4 horsemen of the apocalypse seem to be Obama, Geitner, Bernanke, and Reid?

    Good post #7. However, being a democrat means never feeling shame.

  • Estragon

    Before we rush to dump Geithner, as inept as he appears, stop and consider for a minute what is left on Obama’s bench: no one with any real world finance experience at all, just career government parasites and academic leftists.

    The one we need to resign is the one in charge of this mess, not his henchmen.

  • FurryGuy

    I can’t remember a single thing about which Geithner was ever correct. There was a thing or two he was nuke bomb close, but nothing he was pitching horseshoe close about.

    The perfect storm of Barry and the Socialist Left seems about ready to sweep over the U.S. and do irreparable damage to our economy and freedoms.

  • Little David Puddy

    Hey Estragon,

    How about the guy from H&R Block I use to do my taxes. He never cheats on them and he knows how to use Turbo Tax.

  • http://reaganiterepublicanresistance.blogspot.com Reaganite Republican

    RESIGN you lying, incompetent POS

  • Black Sabbath

    Geithner needs to RESIGN for personally getting us into this situation.

    Obama needs to RESIGN for his absolute disaster of a presidency.

    Boehner needs to RESIGN for allowing the GOP to capitulate to this madness.

    WE need to MARCH on DC and help them RESIGN if they aren’t going to do it themselves.

  • Blacque Jacques Shellacque

    “There’s no chance the US will lose top credit rating.”

    Wanna find out if the idiot is capable of feeling shame? Play back that clip in front of his face.

  • Gman

    This is all part of Obama’s plan.

  • http://symbolic-mirage.blogspot.com LL

    Even though the Democrats oppose it completely, the balanced budget amendment makes sense. At some point we need to take the whiskey and the car keys away from the kids. Congress and the nation needs to live within its means.

  • Retro

    I hate it for America but I’m thrilled it happened on the marxist muslim boy from kenya watch, this may have for sure sealed his fate

  • Carbon Pootprint

    Karl Denninger for Treasury Secretary!!!! An Egg plant that sits in the window & leans to the right to replace Obama!!!

  • Arch

    Geithner is a graduate of Dartmouth College the best undergraduate education in the United States. Graduates of the Tuck School of Business are on par with Harvard, MIT and Stanford. Unfortunately, Tim does not have a degree from Tuck. His major was not accounting or finance or marketing or economics or even business. He has a degree in Asian Studies.

    Perhaps the next Secretary of Treasury should be someone with a degree in finance and experience managing a profitable business.

  • Carbon Pootprint

    @ #22

    Asian Studies huh?
    Mao?

  • mg4us

    Wonder how the Sunday talk shows and MSM will spin this?

    Not one but two Unprecedented events. . .
    – US debt downgraded and
    – officially we have a worse president than Carter!!

    As bad as Carter was, as bad as the US economy was with odd/even gas line days and a sky high misery index, he never has the US credit worthiness downgraded.

    Obama surpasses Carter to officially downgrade US credit rating thereby gaining him the official title “Worst President Ever”.

    And people like her, “F-’em” Romer, Commie Van Jones, “kiddy-perv” Kevin Jennings, “Mao-loving” Ann Duncan, “my people” Holder, and “Tax Cheat” Geitner, to name a few, only reinforce Obama’s incompetence and ineptness at building a qualified team.

    This is what you get when you elect someone who is not a naturally born citizen, who keeps their transcripts secret, reveal a fake birth certificate, and pals around with commies and known terrorists.

    Obama – – INCOMPETENT, Inept, Inexperienced and In-to-himself. . .Obuma!

    Obama/Geitner. .wrong on US credit rating, wrong on recovery, wrong for America!

    2012, if not sooner, get them both out! Time for real change to restore our country’s credit rating.

  • http://reaganiterepublicanresistance.blogspot.com Reaganite Republican
  • RedBeard

    Yes, the symptom is Timmy Turbotax, but the disease is Obama.

    The mere fact that Obama has kept an incompetent boob like Timmy in place does much to legitimize the theory that Obama is following the Cloward-Piven Strategy.

    Boehner and the rest of his RINO caucus need to wake up and recognize that this isn’t a collegiate debate; it’s WAR. And the prize, if we win, is the restoration of the United States of America. The result if we lose is the end of our country. The choice could not be more stark.

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  • mg4us

    Here is an interesting story that needs to be passed on to all your colleagues & friends. . .

    http://www.americanthinker.com/2011/08/the_presidents_new_clothes.html

  • Blacque Jacques Shellacque

    He has a degree in Asian Studies.

    Can you say, “unqualified for his current position”?

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  • http://americanpowerblog.blogspot.com/ Donald Douglas
  • donh

    Appointing a Tax cheat to run the Treasury is reason enough for a downgrade…S&P is 3+ years too late .

  • http://lipskip.com/ Political Lipskip

    The administration is simply filled with incompetents.

  • Hedgehog

    My only question is: What size orange jumpsuit does Timmy Taxfraud take?

  • AuntieMadder

    Timmy Geithner must be so proud of himself today. He set out to achieve the impossible – to make the impossible possible – and he did it.

    Congratulations, Beavis.
    http://cdn.ihatethemedia.com/wp-content/uploads/tim-geithner-beavis-3-e1273328553646.jpg

  • Estragon

    Geithner has been wrong – or at least carried out bad policies without complaint – regularly, but here he wasn’t wrong.

    The ratings agencies who have downgraded us both jumped the gun to prove how independent and beyond influence they are, mainly, IMO. Now, it wasn’t a slam dunk call, but we should not have been downgraded. In fact our bonds have been rising in price, lowering our interest, even after the first news broke, because the world knows where its money is safest.

    Now, we definitely needed to meet the criteria of $5+ trillion in cuts over the ten year window, and of the three bills passed out of the House, only the Ryan budget bill did that. And so we came up short on cuts. The idea that you can raise taxes in an economic slowdown and expect revenues to increase and recovery to begin is simply unfounded in either theory or experience.

    BUT we could still fix it all, with a bit more pain, after the election. And the Democrats have given us what we need to win it – Obamanomics, feckless regulation, anti-business policies and rhetoric, and the repeated conviction we need tax increases.

    Fortunately, though, the markets aren’t bound to price bonds by the ratings, although they usually do. But we are the Big Kahuna, and everybody knows if your money isn’t safe in US Treasuries, it cannot be made safe at all.

  • rickperry2012

    Hit the road Timmy, your a useless liar who needs to be unemployed.