Sen. Jim DeMint Wants Geithner to Explain ‘Exit Strategy’ to Trillion-Dollar Bailouts
Posted By Vicki McClure Davidson on May 20, 2009
By Vicki McClure Davidson * Frugal Café Blog Zone
Recovery.gov logo spoof created by Anonymous
Where’s the exit strategy, Mr. Secretary of the Treasury? Or, should American taxpayers kiss off these billions forever?
Sen. Jim DeMint (R) of South Carolina, deservedly so, wants some concrete answers from Secretary of the Treasury Tim “Tax Cheat” Geithner about a planned exit strategy.
From Michelle Malkin: Bailoutmania: Not “permanent.” Just forever…
…DeMint complained that “we hear very little talk about exit strategies.” He asked Geithner how much of the $700 billion government bailout will be returned to Treasury’s general fund within five to six years.
“That’s hard to say right now,” Geithner said, deflecting: “If we are successful, that money will come back with substantial interest.”
Geithner added that the way the bailout was designed, for each $1 that is paid back, $1 can be lent back out.
“So it’s your understanding that you have $700 billion to use permanently as you see fit?” DeMint asked incredulously.
Geithner wouldn’t take the bait. “I’m not quite sure ‘permanently’ is right,” he said.
Not “permanent.” Just indefinite. Perpetual. Never-ending.
Whatever word you want to use, “temporary” government handouts are forever.
Wish more Republicans would get it through their heads.
Related reading:
Fire Andrea Mitchell: Jim DeMint owns and destroys tax cheat Tim Geithner
Hot Air: DeMint to Obama on health care: How’s that stimulus working out, champ?
Vets On The Watch: Treasury Takeover Not Permanent, Just Indefinite
Michelle Malkin: The biggest, most magical makework program ever! and Tim Geithner is a joke in China, too
The American Pundit: Geithner A Laughing Stock At Peking University
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