Please watch this video. On Feb 17, 2011, Treas Sec Geithner admits the President’s budget contains an “excessively high interest burden, it is unsustainable”. The plan contains $13 trillion in new debt and interest payments on the debt increasing to $844 billion a year by 2021.
But, he’s not ashamed of it. He thinks that he and the Pres Obama are clever to propose such a weak plan because they are playing high school style negotiating, or perhaps community agitator or union-style negotiating, by low-balling their numbers to see what Congress will do to up the ante.
This is not leadership. It’s the silly gamesmanship of wimps and cowards.