In a White House press conference today Barack Obama said with Timothy Geithner they had begun to bring down the deficit. Obama also said Geithner was one of our finest secretaries of the treasury in US history.
“And we’ve begun to reduce our deficit through a balanced mix of spending cuts and reforms to a tax code that at the time we both came in was too skewed in favor of the wealthy at the expense of middle class Americans. So when the history books are written Tim Geithner is is going to go down as one of our finest secretaries of the treasury.”
Malarkey.
For the record… The latest fiscal cliff deal passed last week will add another $4 trillion to the deficit. Obama and Geithner also set an international record for running four straight years of trillion dollar deficits.
Geithner presided over four years of trillion dollar deficits and added $5.8 trillion to the debt.
It’s the worst record ever, so it only makes sense that Obama thinks he’s a star.
Here’s another memorable Geithner moment. In April 2011 Geither said there was “no way” the US would lose its top credit rating.
The economy was downgraded four months later in August 2011.
