Monday, June 28, 2010

Geithner and "Growth Initiatives"

Tim Geithner is "calling for the G-20 nations to continue growth initiatives," according to the main stream media. Geithner's idea of growth initiatives is to fatten the paychecks of currently employed public employees, which is essentially what constituted the $ 800 billion Obama-Pelosi-Reid package enacted in early 2009 "to prevent unemployment from reaching 8 percent.". Now with unemployment 25 percent higher than the Obama 8 percent target, Geithner and Obama would like to do more of the same. Even Europe's not buying the Geithner message any more. The G-20 Summit's concluding report emphasized debt reduction and getting one's fiscal house in order. Only the US is pushing for more spending and higher sovereign debt levels.

The Congress and the American public aren't buying it either. The public wants a fiscal about-face. Obama is increasingly isolated from reality and from the American public. Now, he seems to be losing his European fan base as well. Even the British public no longer consider that they have a "special relationship" with the US. In two short years, Obama and Geithner have have become shrill voices with an ever diminishing audience.

1 comment:

Rose said...

As I see in your blog,you are provide good info on the current finance market and the its impact on common people.You give info on each and every section of the finance market.I am also want to upload one quality article for you ,in return also I will give you link in my finance ,debt and insurance site or you can post your article with your site link there.If you interested than contact me at roseanderson26@gmail.com