What else does one expect from a tax cheat. Geithner is calling for the US to lend more to foreign lending institutions despite the fact that our country is broke and the taxpayers are screaming for the government to stop spending.
(Reuters) – U.S. Treasury Secretary Timothy Geithner urged lawmakers on Wednesday to approve capital increases for global lending institutions and warned that failure to do so could harm U.S. influence abroad.
We all know how this administration loves to bribe folks to get their way.
“We live in a dangerous world, the world isn’t standing still,” he told a House of Representatives Appropriations subcommittee where he sought backing for a $1.24 billion budget increase to $3.36 billion for international programs that Treasury oversees.
Banks aren’t loaning the taxpayer’s money, why should we loan money to foreign banks?
“Other countries like China are ready to fill any vacuum left by a receding America and we have to take a very careful look when we’re going to cut back things like this to make sure we’re not undermining our core interests,” Geithner said.
Geithner cited specific areas in which the United States might lose clout if it failed to be generous.
“At the World Bank, failure to finance the capital increase would lead to the loss of U.S. power to veto changes to the World Bank’s government agreement,” he said. “At the Asian Development Bank, if the U.S. does not support this capital increase, we will fall behind countries like China and India.”
It’s beyond time for the U.S. to take care of our own and let other’s support/police the world. What Geithner is doing is asking for more debt which will allow China to purchase even more U.S. treasury bonds. More Chinese debt is not what the U.S. needs.
[...] the truth. Almost 70% went to foreign banks and Treasury Secretary Geithner used the loans to bribe other countries to keep [...]
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