Tim Geithner Is Planking!
Tommy De Seno ·
May 16, 2011 at 10:32am
What's planking? Only the biggest, oddest new fad to hit down under. Australians have taken to lying down prone, usually in precarious positions, taking pictures of themselves and posting it online.
Don't get it? Try this Aussie news report:
Tim Geithner is about to try the most expensive and perilous plank yet. He is going to put his feet in the federal budget and his head in federal pensions and bridge the two.
America is about to hit the $14.3 trillion debt ceiling and Giethner says the only way to pay the bills after Monday is to raid the federal pensions.
I have some questions:
1. Is he bluffing?
2. Do we care? Federal law says the government has to replace the money.
3. Will Republicans fold to this pressure?
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Comments :
Oct '10
Re: Tim Geithner Is Planking!
Reminds me of that scene in Inception on the elevator.
May '10
Re: Tim Geithner Is Planking!
Do we care about federal pensions? Of course not, especially as they're geographically concentrated in places Democrats win easily. But we should make it clear that the Executive is now responsible for their triage decisions. I don't think they'll go so far as to default or cut off war funding, which would be instant political suicide.
They will try to do unpalatable things and blame it on the GOP. It is our job to point out that we've reached our credit limit, our bonds are being shorted, downgraded and sold off (by China), and that the administration is not serious enough about that to put forth a budget.
In most years, that would be a losing argument politically. These days, not so much.
Dec '10
Re: Tim Geithner Is Planking!
We'll care when the feds start raiding private pensions and 401(k)s, in which over 3 trillion in assets are held. It will be a matter of fairness doncha know. Was it Ireland which recently started taxing private pensions?