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Tim Geithner and the Return of Moon-Yogurt Accounting

Riquochet Wrote: Dec 03, 2012 6:25 PM
Wait. How come those making $250K are rich? When did that happen? I thought it was millionaires and billionaires. (Sarcasm off.) What is so magic about $250K? Why is that the cut off point, just because Obama said it is? And you do know, that those that make over that much will mysteriously start making $249,999.99? Don't cha? $80 billion, pffft. They get about a quarter of that. Idiots. Static modeling, it the junior high approach to economics.

Treasury Secretary Tim Geithner has had a rough few days.  Late last week, Sen. Mitch McConnell laughed in his face when he presented President Obama's breathtaking fiscal cliff "deal" -- which raises taxes by $1.6 trillion, abolishes the debt limit (!), spends tens of billions on a new stimulus (!!), and offers no specific or guaranteed spending reductions to speak of.  Then Geithner appeared on Fox News Sunday to defend the proposal, and things went...not so well.  When host Chris Wallace pilloried his claim of illusory "savings" on war spending, Geithner was flummoxed (via