About 90 minutes ago, Michele Bachmann called on President Obama to fire Treasury Secretary Timothy Geithner:

BACHMANN: That’s right Greta. Tonight’s decision by S & P to downgrade our credit rating from AAA to AA+ is historically significant. It’s a very serious event for the United States because our country has had a AAA bond rating since 1917. That rating has never been downgraded since before the Great Depression, World War II, Korea, Vietnam and the terrorist attacks on 9-1-1.
This president has destroyed the credit rating of the United States through failed economic policy and his inability to control government spending by once again raising the debt ceiling. We were warned by all of the credit agencies that a failure to deal with the debt would lead to this downgrade in our credit rating. But instead, this president submitted a budget that had a $1.5 trillion deficit and then he requested a $2.4 trillion blank check on top of that.
President Obama is destroying the foundations of our economy one beam at a time. I call on the president to seek the immediate resignation of Treasury Secretary Geithner and to submit a plan with his list of cuts that balance the budget this year, turn this economy around and put our people back to work.
I’m very concerned that this administration tomorrow might look for anyone else to blame. They may blame the TEA Party. They may blame the rating agencies or anyone else. They knew this was coming this year in January but they didn’t write a plan and they still don’t have a plan.

That’s letting this administration have it with both barrels, something that should’ve happened weeks, possibly months, before this.

There isn’t a sentence in Michele’s statement that I’d disagree with. President Obama’s policies aren’t just failing. It’s that they’re expensive and adding trillions of dollars of debt in just 3 years.

Think about this: This year’s deficit will be equal to or more than the debt added by the Bush administration. What’s worse is that President Obama’s plan hasn’t created enough jobs to keep up with population growth. Obamanomics certainly hasn’t created a real economy, either.

Geithner’s resignation is the minimum requirement, actually. Entitlement reform must be on the Supercommission’s agenda. The Supercomission members must be sober-thinking people, not bombthrowers like Chris van Hollen, Chuck Schumer and the like.

We can’t afford to play politics with this anymore. Naming Paul Ryan as the chair of the committee is essential, as is naming Tom Coburn, Jim Jordan, Dave Camp, Marco Rubio and Jim Demint to the commission.

One part of the group should work on reforming entitlements, with the other group working on reforming government, especially focusing on regulatory reform. The first group should be chaired by Paul Ryan; the other group should be chaired by Jim Jordan.

Obamacare must be repealed. Simply put, we can’t afford it any longer. We never could. Dodd-Frank must be repealed too. The EPA and the NLRB must be reined in. Domestic energy production must start ASAP, too.

In short, hardline progressive policies must be rejected.

Tonight, S & P essentially told President Obama that his isn’t a serious administration in terms of creating a great economy or being fiscally prudent.

Tonight, they, along with Michele Bachmann, told President Obama that his will be a one-term administration.

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7 Responses to “Following credit downgrade, Bachmann calls for Geithner’s firing”

  • Chad Quigley says:

    This president and his administration have been a complete failure yet the media keeps blaming the country’s demise on the GOP and your common person on the street laps it up like a dog. Until the GOP gets rid of all the RINO’s and starts fighting fire with fire when it comes to getting their message across, the liberals/progressives/socialists will continue to win the information or rather misinformation war.

  • Gary Gross says:

    We haven’t gotten rid of the RINO’s but we’re winning the information war.

  • eric z says:

    Yes, get rid of the bankers’ banker.

    Geithner is worthless to the nation, precious to the Wall Street heavy hitters, and bailed out plungers.

    While at it, the Bush holdover, Bernanke needs to hit the job market.

    While we are at it, Michele Bachmann seeing the same folks who said subprime securitizations were hot, are saying “Oh, dear, the sky is falling,” and the fire the bastards feelings should reach further than only Geithner.

    But I think progressives agree with you, for perhaps more far-seeing reasons, that Geithner and the Obama banking policy are bad news.

    However, the main reason the traditional Republicans such as Bachmann are in anger mode, their coffers are being raided, and so – the grapes beyond reach are sour anyway:

    http://news.firedoglake.com/2011/06/24/obama-raises-2-4-million-from-wall-street-in-one-evening/

    Tweedle Dee and Tweedle Dum, in bed together and who took the money, who took the jobs?

    Only – keep a level head please. The rating agencies saying whatever they say, does NOT mean the sky is falling. It is still there. And it’s not a falling sky but a death by a thousand cuts that the two parties are inflicting on the body politic. BOTH OF THEM, GARY.

    BE FAIR.

    How about ignore the rating agencies who foisted off for years the securitized mortgages as “rock solid.” It’s do it yourself time:

    RATE THE DOLLAR. EASY.

    LOOK AT THE FX TRENDING. DON’T NEED A WEATHERMAN TO SEE WHICH WAY THE WIND BLOWS.

  • Gary Gross says:

    First, calling Michele a traditional politician is pure foolishness. Next, the reality is that Dodd-Frank didn’t fix a problem, it created one. It’s tightened the rules on small banks which weren’t the problem but it ignored Fannie & Freddie & Countrywide, which were the problem.

    BTW, Fannie’s & Freddie’s executives are filled with Clinton administration people while Countrywide had bought off Chris Dodd & a senator named Barack Obama.

    Next, I won’t defend the ratings agencies. Anyone that gives mortgage-backed securities a AAA bond rating isn’t doing their job. PERIOD.

    Finally, Michele’s had this right for months now. She’s been the leader on this. While Republicans, especially Senate Republicans have played the go-along-to-get-along game, Michele’s been talking about what actually needs to happen.

  • terry says:

    Michelle Bachmann will not acknowledge her part in the plight that our country is going through. I find that when you hate someone your whole aim is to destroy them. when I listen to her speak about Obama she does not sound like a Christian as she espouses to be….she sounds like someone who is angry about an African American holding the highest office in our land and she is not about to be a part of aiding him in anyway no matter how it impacts the country as a whole. as a matter of fact I had never heard anything about her until this election. Hatred , though seemingly invisible and easy to conceal behind so called patriotism, is destructive . I am so sadden to see profess that what s he does is in the name of goodness and righteousness. I hope she will have the humility to pray to see what her motives are.

  • Gary Gross says:

    Michelle Bachmann will not acknowledge her part in the plight that our country is going through.

    What part did she play in ruining the U.S. economy and credit rating?

    She sounds like someone who is angry about an African American holding the highest office in our land and she is not about to be a part of aiding him in anyway no matter how it impacts the country as a whole.

    That’s pure BS. She isn’t a bigot or racist. That’s purely part of your imagination.

    As for not helping President Obama, that’s probably because President Obama refuses to admit that his policies have failed miserably.

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