The Other McCain

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VIDEO: Bachmann Demands Resignation of Treasury Secretary Timothy Geithner

Posted on | August 6, 2011 | 26 Comments

DES MOINES, Iowa — As reported last night at The American Spectator and at Libertarian Republican, here is video of Bachmann’s statement:

The text of Bachmann’s statement:

“Tonight’s decision by S&P to downgrade our credit rating to AA+ is a historically significant and serious event for the United States. The United States has had a AAA credit rating since 1917. That rating has endured the great depression, World War II, Korea, Vietnam and the terrorist attacks on 9/11. This President has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling.
“We were warned by all of the credit agencies that a failure to deal with our debt would lead to a downgrade in our credit rating, but instead he submitted a budget that had a $1.5 trillion deficit and then requested a $2.4 trillion blank check. President Obama is destroying the foundations of the U.S. economy one beam at a time. I call on the President to seek the immediate resignation of Treasury Secretary Timothy Geithner and to submit a plan with a list of cuts to balance the budget this year, turn our economy around and put Americans back to work.”

UPDATE: A statement from Herman Cain:

On Tuesday, April 19, 2011, Treasury Secretary Tim Geithner promised that America faced “no risk” of a credit downgrading. Less than four months later, he is proven shamefully wrong. As I have feared for months, the S&P has chosen to downgrade America’s credit rating from AAA, which we have always enjoyed, to AA+.
Perhaps this is because the Obama Administration and Congressional Democrats never once demonstrated a willingness to propose its own ideas for meaningful spending cuts, something credit agencies signaled were necessary to redeem America’s financial standing in the world.
As a corporate executive, I’ve rescued companies from the brink of bankruptcy and returned them to profitability. That involved balancing budgets or even creating them in the first place, something that the Democratic leadership in Congress hasn’t done for 828 days. If I couldn’t run companies without budgets, how can the government?
I also had to make tough budgetary cuts to save companies. Leadership is about doing what’s right, even when it’s difficult. But somehow, that sort of idea was never floated among those within the Obama Administration.
Now, Americans are fearful for their retirements and for their children’s educational savings. This is a country known for dreamers and innovators, for thinkers and doers. And now, we are a nation living in fear.
This is a sad day for America. Such a rating is unfitting of the greatest and most prosperous nation the world has ever known. And such a weak leader is, as well.

The Treasury Department is claiming to be victim of a mathematical error by S&P. Who do you trust to do math, S&P or Geithner?

Linked by Da Tech Guy — thanks!

UPDATE II: Linked by Reaganite Republican and by Tea Party Libertarian — thanks! — and welcome, Instapundit readers!

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Comments

  • Pingback: Datechguy's Blog » Blog Archive » Michelle Bachmann in Iowa: Tim Geitner must resign!

  • Anonymous

    Considering I don’t trust Timmy to tie his shoes…..

  • http://profiles.google.com/betoochoa78722 Beto Ochoa

    The DNC propaganda outlets are already blaming this on the TEA Party for “Their reckless behavior” in the debt negotiations. What ever that means.

  • http://profiles.google.com/betoochoa78722 Beto Ochoa

    PS…
    There wont be any blame accepted by the administration because
    “It’s The TEA Party’s Fault”

  • Anonymous
  • JeffS

    The lefties are unwilling to admit they are a significant part of the problem, and are unwilling to be part of the solution. 

    So, of course, they must blame someone.  Even though the TEA Party wants to fix the basic problems, overspending and overcommitment to entitlement programs. 

    And I expect that many Republicans (yes, I’m looking at you, Senator McCain!) would like to blame us “hobbits” as well, since they are also part of the problem.

    Time to adjust our basic premises: don’t spend outside our means, and the government shouldn’t be the one to fix everything.

  • JeffS

    Kudos to Bachmann and Cain.  Past Administrations — and Congresses! — have been unwilling to seriously address our debt and revenue problems.  People don’t agree with S&P’s decision, but that doesn’t mean S&P is wrong. 

    It’s past time to get serious about this.  God knows that Obama, and a significant portion of Congress, haven’t been serious about this at all. 

  • JeffS

    PS:

    Who do you trust to do math, S&P or Geithner?

    Given that Geithner is a known tax cheat, I’m sure that the Democrats trust him implicitly.  He’s their sort of dude.

    Me, I don’t trust him any further than I could throw Ted Kennedy’s bloated carcass back when he was alive.

  • http://thepagantemple.blogspot.com/ ThePaganTemple

    Palin actually had the best line last night on Greta Van Sustern’s show. She said if Obama really thought the Tea Party was terrorists he’d be trying to pal around with them. See, you gotta love Palin for stuff like that, and Bachmann too. That’s exactly the kind of person the Republicans need to head the ticket, somebody that don’t give a good FRIED-DIDDLY-FUCK what people say or how they criticize every word out of their mouths, they’re still going to tell it like it is.

  • http://www.letfreedomringblog.com Gary_Gross

    I transcribed another portion of Michele Bachmann’s statement in this post:
     
    http://www.letfreedomringblog.com/?p=10943
     
    I also added some commentary.

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  • http://twitter.com/Mutnodjmet Leslie Eastman
  • Anonymous

    “… is a historically significant…”

    Correction – Mrs Bachmann actually said this correctly – she said “…is an historically significant…”.

    I am not writing this to be a pedant; Mrs Bachmann has been attacked for her education and knowledge, byt professional broadcasters who make far worse grammatical errors than the one you made in transcription, yet their job is to speak. Mrs Bachmann is better at it than they are.

  • Cube

    How does the Treasury Secretary’s resignation fix the structural overspending on entitlements or the extra discretionary spending?  Both of those are controlled by Congress which is persistently unwilling to tell the public what all of us know on some level but don’t want to hear when it comes to government funding.

    NO!

    We know that entitlement spending CAN NOT be sustained at current levels.  We know that past promises regarding Social Security and Medicare  CAN NOT be kept – the math just doesn’t work.  And the longer we wait to make fundamental reforms, the more painful they will be.

    Come on people, even bad news is better than being lied to.  Just ask the people that lost everything to Bernie Madoff.

  • http://thepagantemple.blogspot.com/ ThePaganTemple

    Bachmann might be the most intelligent of the lot. If she doesn’t get the nomination, she should damn sure be appointed Secretary of Education, she might actually make the damn post worthwhile.

  • Anonymous

    Nobody can make that post worthwhile. The only proper leadership for the DoE would be the operations manager of a demolition company.

  • http://thepagantemple.blogspot.com/ ThePaganTemple

    Oooohhh you are so wrong. I’ll revisit this with you later, but there’s a lot of ways that department can be made worthwhile. If for no other reason it can help alleviate the stress on local communities to raise property taxes, but that’s not even the best of it.

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  • Anonymous

    Any one who finished their education before 1978 did so with no “help” from the Dept of Education.Carter created the dept at the behest of the unions. Meanwhile test scores have remained flat. By any measure the Dept of Ed has failed utterly and serves no useful purpose. Even with the bloated Obama budgets, fed funding of K-12 education is only 8.3%. Remove the DoE overhead, the mandated spending plus state and local bureaucrats whose sole function is to deal with federal diktats and much of that 8.3% would be recovered in savings, in any case it doesn’t take a cabinet level dept to send states a check. That’s just the money aspect, the purpose of the DoE isn’t to help our schools but to control them. The Dept of Education is an unmitigated evil with no redeeming value, it’s merely another method of Bolshevik control of our lives and must be abolished. It’s just another source of funding for governmental and non-governmental Marxists. It is the place where “bold new initiatives” go to die, but not before squandering millions of dollars.

    http://www2.ed.gov/about/overview/fed/10facts/index.html

  • J.M. Heinrichs
  • http://www.leftbankofthecharles.com Charles

    Yes, forcing the House and Senate to stand for election en masse in the event of a budget impasse, that should go into the BBA.

  • Presfortyfour

    When Michelle gives back those hundreds of thousands dollars of welfare she and her husband received Timothy  Geithner could retire.