RUSH: A See, I Told You So. Here’s Timothy Geithner, the tax cheat, the little egghead Treasury secretary never has held a private sector job. Yesterday on This Week Still Needs David Brinkley, the fill-in host Jake Tapper said to Tim Geithner, ‘Ben Bernanke, chairman of the Federal Reserve, said that the economic outlook is unusually uncertain, extending the Bush tax cuts would have a stimulative effect on the economy. Is the Fed chairman right?’
GEITHNER: It’s responsible to let the tax cuts expire that just go to 2 to 3% of Americans, the highest earning Americans. We think that’s the responsible thing to do ’cause we need to make sure we can show the world that we’re willing as country now to start to make some progress bringing down our long-term deficit —
RUSH: Stop the tape. That’s all you need to hear. Stop the tape. That’s a See, I Told You So of huge proportions. Back when all of this economic disaster started, all of this purposeful destruction, I said after you run up the debt, after you’ve got the deficit and the national debt so high, you’re going to have to show the world that you’re serious about it, and how you gonna do it? You’re going to raise taxes. I mean this is almost word-for-word what I said. In fact, Cookie, go back to our archives, find where I said this. It has to have happened in the last year and a half because I didn’t say it ’til the Obama regime was immaculated, but I know we’ve got it in the archives and it’s crystal clear. You’ve got Democrats now as we talked about Friday, ‘Well, maybe we need to extend the Bush tax cuts.’ That’s just campaign rhetoric.
Folks, do you know of any Democrat that really wants to cut taxes? Have you ever heard of one? It’s an election year, it’s all election year mumbo jumbo. But extending the Bush tax cuts, that would delay the Obama regime of destruction of the US private sector. Here’s Geithner again. This is another question from Jake Tapper: ‘Job creation has not gone as well as you hoped.’ Geithner, oh, yes, it has. We haven’t created any. That was the idea. ‘What more can you do?’ Tapper said. ‘I know there’s small business lending initiative, but what more can you do given the lack of appetite on Capitol Hill for any spending program –‘ (laughing) Jake, lack of appetite on Capitol Hill for any spending programs? Jake, lack of appetite on Capitol Hill for any more stimulus? Jake? Jake? This is Jake’s last Sunday ’cause next week Christiane Amanpour comes back from vacation in the South of France to take over for the show. Anyway, here’s what Geithner said in answer to the question: ‘Job creation’s not gone as well as you had hoped.’
GEITHNER: Right now the best thing the government can do in addition to those things is help create the conditions for the private sector to start to invest and hire again. Now, we’ve seen six months of positive job growth by the private sector, that’s pretty good.
RUSH: Yeah. Okay, so there you have it, the tax cheat, Tim Geithner says the economy has now recovered sufficiently for government to begin to make way for private investment growth. Shouldn’t the government have been making way for private business investment from the get-go? I mean in the real world where economic growth is truly desired, shouldn’t that be have been the first thing on tap? But now all of a sudden, no, the economy has recovered sufficiently. Where? The average sales price, the average home fell $214,000. Where is this phantom recovery? Geithner said we need to make that transition now to a recovery led by private investment. He said that on Meet the Depressed. Oh, yeah, we need to transition now to — why? Government’s done enough? Now we gonna have stimulation from the private sector, recovery? These people, folks, are just mouthing a bunch of election-year rhetoric. They have single-handedly destroyed all of this. They continue to. These Bush tax cuts will not be extended, and when they drop on January 1, 2011, you can forget about guesses as to whether or not there will be a double-dip recession or not. There most certainly will.