US Treasury Secretary admits President’s Budget is Unsustainable

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.