Tim Geithner on Meet The Press yesterday…
It’s four years after the financial crash Geithner’s talking about, and there’s no particular sense of a robust recovery. Virtually everybody involved in the actual economy blames the lack of any real growth on bad policies – whether on taxes, regulation, finance, the environment, energy and practically everything else.
And the regime Geithner is part of is blowing a trillion dollars of our national inheritance in federal deficits every year in an effort just to prop up the “recovery” they’re bragging about. A “recovery” which has seen the labor participation rate nosedive to levels not seen in half a century or more.
Every piece of good economic news is followed by a contradictory indication. That’s what you get when your economy is bouncing along the sea floor. That’s what’s known as a depression. Depressions – prolonged depressions like this one – occur as a result of stupid economic policy. Think FDR in the 1930’s, whose administration is a template for this one.
The GOP and/or the Romney campaign needs to start calling this depression a depression, and they need to start putting the question to the American people – what do you want for the future of the country? A depression or a recovery? Because if you’re OK with an economic depression in which we spend ourselves into oblivion while our people lose hope and our government demands we trade our freedom for our security, then vote Obama. If you’re interested in getting out of this mess, balancing the budget (at least down the road; in the short term knocking it down to something manageable), creating economic growth that might not lift everybody out of dependency but at least reduce it while making some people rich and getting the government out of the way of people to create their own futures, then vote against him.
That’s the contrast folks need to see.
But at minimum, guys like Geithner being front and center spewing excuses for crappy performance need to be shown and re-shown as the face of this administration. It’s tough to justify another four years of him, regardless of your ideology.