Geithner: Economy rebounding, but job growth lags

[tonysam]

WASHINGTON (AP) -- Treasury Secretary Timothy Geithner acknowledges the federal budget deficit is too high, but that the priorities now are economic growth and job creation.

Asked repeatedly on NBC's "Meet the Press" whether this means taxes will rise, Geithner avoided giving specifics. He did say President Barack Obama is committed to dealing with deficit in a way that will not add to the tax burden of people making less than $250,000 a year.

The White House has not decided how to reduce the red ink, Geithner said in an interview broadcast Sunday.

More

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More spin, of course. The economy isn't "rebounding" if millions upon millions of people are out of work and have few job prospects.

[area51]

1. Exactly.

There can be no recovery without jobs. Without jobs, people won't spend, and the economy won't ever be able to recover.

[tonysam]

2. I need to amend my statement

Of course the economy is "rebounding" in spots, especially the banking industry, thanks to all of those handouts courtesy of you and me.

[ProleNoMore]

3. He Means Too Big To Fail Are Profitable And Wall Street Is Churning

eom

[AllentownJake]

4. This guy is such a fucking douche

"Unemployment is worse than almost everybody expected. But growth is back a little more quickly, a little stronger than people thought," he said.

Really Timmeh, you couldn't figure out that borrowing and spending $300 billion dollars would have some sort of positive effect on GDP? How about back in March when you said unemployment would top off at 8%? What the hell did you think was going to happen that growth would continue to decline but unemployment wouldn't.

Fucking Douche.

[mule_train]

12. promoting growth without addressing globalism and open borders is a jobless 'recovery'

financed by the middle and working classes - simple as that

a direct transfer from America's working people to our elite and foreign nations

a risk of eventual direct slavery to communist china

[tblue]

5. Geithner serves at the pleasure of the President.

Obama could fire him. Just sayin'.

[mule_train]

9. and both serve at the immense pleasure of wall street

"WOO HOO!!!! EVEN WHEN WE LOSE WE WIN!!!! WOOO HOO!! IT DOESNT GET BETTER THAN THIS! NO LETS GET BACK TO SHIPPING ALL OF THE JOBS OFFSHORE AND LOBBYING AGAINST REGULATION!!!"

[AllentownJake]

11. Not till 2010

Firing Geithner is politically impossible till after the congressional races in 2010.

It would also cause destabilization in the markets. Geithner is one of those picks that you are stuck with.

[jwirr]

He finally noticed?

[mmonk]

6. Wall Street is rebounding with its taxpayer infusion.

Jobs aren't rebounding nor is the industrial infrastructure. This is because of Geithner's political economics which is the same political based economics that brought us this mess. It's all because we have shifted to both parties having the same political goals as far as "economics" goes.

[Triana]

7. To Geithner: Job Growth Lags = Economy NOT Rebounding

Idiot.

[mule_train]

10. anyone he cares about is rebounding, who cares about the little people nt

[mule_train]

8. failed bankers are getting big bonuses, why should we care if ordinary people have jobs?

Obama has handed a fortune to failed bankers, but he fought in court someone who tried to reverse one of Bush's WORST illegal, unconstitutional guest worker increases, stating that American workers have no standing in court on labor issues

WHAT DOES THIS TELL YOU?!?!?

every word of the above is true

"
White House says U.S. needs H-1B visas to avoid 'competitive disadvantage'
Obama administration defends H-1B rule in lawsuit challenging 2008 Bush ruling
on visas Patrick Thibodeau"

http://www.zazona.com/NewsArchive/2009-04-21%20OPT%20lawsuit%20lives%20on.htm

Bankers get 'money fo nothin' (administered by a snake every bit as bad as Paulson), and YOU get your job market glutted in a depression

[tonysam]

13. Somebody or somebodies "unrec'd" this thread

LOL. I don't blame them.

[99 Percent Sure]

14. Geithner is joined at the hip to Larry Summers, who seems

to be the chief advisor on Obama's WH Econ Council, so I'm not hopeful that there will be any change at the Treasury.

Although I've signed Grayson's petition against the president reappointing Bernanke until he comes clean about the "secret" trillions he gave to the banks and Wall Street, I don't see anything changing at the Fed either.

I knew something was about to hit the fan when they kept talking up the meager number of jobs that the recovery plan had "saved/created."

I didn't listen to the president yesterday. Did he say anything about jobs creation during his weekly speech?

[AllentownJake]

15. They are pretty inept at this issue

Of course you can't be surpised when the guys who went after Brooksly Born on Derivative trading, even after a cataclysmic event happened, are brought back into the executive branch.

All of these guys in the economic policy team are free market idealouges.

Herbert Hoover redux.