Government

Geithner: Seeking a Debt Deal by Afternoon

WASHINGTON (The Blaze/AP) — One day after emergency debt negotiations at the White House ended after just 50 minutes, Treasury Secretary Timothy Geithner said congressional leaders are putting together a framework for raising the nation’s debt limit with a goal of announcing a deal before Asian markets open Sunday afternoon.

U.S. officials worry that a lack of significant progress on the debt ceiling and other debt issues would roil worldwide markets when they open for business.

Geithner told ABC’s “This Week” that congressional leaders in both the Republican and Democratic parties insist that the debt limit will be raised before the default deadline of Aug. 2. He said President Barack Obama still demands that any agreement extend beyond the 2012 elections.

Negotiations between the White House and congressional leaders have reached a crisis point with disputes over spending cuts and additional tax revenue.

View Geithner speaking on CNN’s “State of the Union” Sunday in a separate interview:

Meanwhile, in an interview with “Fox News Sunday,” House Speaker John Boehner said he’s working to get out a two-part plan to raise the nation’s debt limit, but couldn’t say whether it would include Democratic support.

Boehner said he hopes to have a bipartisan approach to solve the problem, but he‘s ready to move forward with a Republican plan if a deal couldn’t be reached.

The speaker flatly rejected the White House insistence that the plan get the country through the next election instead of offering a short-term fix while a longer-term solution can be worked out.

He said it’s “not physically possible to do all of this in one step.”

Comments (165)

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  • GO
    Posted on July 24, 2011 at 12:25pm

    They cannot tell the truth, pay their taxes or buy more votes unless the have our money to do so. They need it to take care of the illegal aliens so they can buy more elections.

    Report Post »  
    • tower7femacamp
      Posted on July 24, 2011 at 12:39pm

      the truth is USA went bankrupt in 1933 and Social Security
      was invented to pay off the Federal Reserve

      The 14th amendment applies to ‘persons born or naturalized’. Can property be born? Were slaves (property) born? In the early days of this country, when you were born, your birth was recorded in the family Bible. This showed you were under the jurisdiction of God, your creator. Starting in the 1930′s, when you were born, you were issued a birth certificate from the state, and this certificate was recorded in the state records. After your birth certificate is recorded, it is sent to the Department of Commerce. Why there? Because the government is creating an artificial person and is just recording the birth of their property, that they will control and use for generating tax revenue. This is done to create an employee of the United States corporation to help pay off the national debt, since it is not legal to use private property to pay public debts. When you are bankrupt, you can use all the help you can get, or create!
      http://usa-the-republic.com/revenue/true_history/Chap8.html

      Report Post » tower7femacamp  
    • gotta light
      Posted on July 24, 2011 at 12:41pm

      Here’s the only thing about Lil Timmy Geithner you have to remewmber & know…

      He doesn‘t pay his taxes until he’s caught but he want you to pay yours…..

      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!
      TAX CHEAT!

      Hey bud gotta light?

      Report Post » gotta light  
    • tower7femacamp
      Posted on July 24, 2011 at 12:41pm

      your taxes go to pay the Federal Reserve 1st
      http://www.zimbio.com/David+de+Rothschild/articles/6/Wo+Owns+Federal+Reserve+Rothschilds+Bank+England

      Report Post » tower7femacamp  
    • lovenfl3
      Posted on July 24, 2011 at 1:16pm

      This whole debt ceiling “crisis” has been a joke from the beginning. According to the Obama administration, leadership no longer means leading. http://www.youtube.com/watch?v=PtwXCyZCPqM

      Report Post » lovenfl3  
    • hauschild
      Posted on July 24, 2011 at 1:44pm

      I can’t wait to see Boehner sell us down the river today.

      The deal is obviously going to be EXACTLY like the “almost deal” between him and the Marxist the other day. And, Boehner will be hailed by the left as “reasonable”, but will be burned at the stake by the people that pay the bills in this country.

      A lotta really bad stuff going on the past few months, but I am sensing we are not even close to reaching the bottom yet. Brace yourselves, people!

      Report Post »  
    • Viking64
      Posted on July 24, 2011 at 2:01pm

      Sad but very true!

      Report Post »  
    • VegasGuy
      Posted on July 24, 2011 at 2:19pm

      We have a socialist president. We have a tax cheat running the federal reserve. We have a myriad of leftists and environmental extremists appointed to high level bureaucratic positions. Is it any wonder the U.S. is headed off a cliff? If Obama wins another term the U.S. as we know it and our constitution will no longer exist.

      Report Post » VegasGuy  
    • Jediusetheforce
      Posted on July 24, 2011 at 2:34pm

      @Vegasguy: If that happens, when are we going to war? Sooner than later I hope. The American public is asleep as usual…too rapped up in their toys and sports to even give a lick. We are the few, the growing, the proud, the patriots. Or we could do nothing(peaceful) except pray for the end.

      Report Post »  
    • 101
      Posted on July 24, 2011 at 3:35pm

      I said it from the beginning that they would work thru a long weekend to meet the deadline and resurface w/an agreement “surprise” it’s Sunday and they have to agree or the world will end “Armageddon” today we will hear how they saved the world…Dog & Pony Show

      Report Post »  
    • hauschild
      Posted on July 24, 2011 at 4:45pm

      It would be hilarious if it wasn’t so pathetic. Even the press is in the tank. Everybody‘s in a tizzy over a potential stock market decline that hasn’t been representative of reality in years – it’s nothing more than a sham whose numbers are affected by a very select few.

      This is really the ONLY case made by these political lunk heads, and it’s full of holes. I certainly couldn’t care less about the market making a short term correction, considering the potential for the market to completely evaporate if the country doesn’t do a 180 immediately – which now is not going to happen. It’s a complete joke. Not ONE reasonable mind in a position of power in this country – NOT ONE!

      I just can‘t understand why people won’t see what’s coming. And, like I said before – all that I’ll get to say is that I told you so, but by that time, where’s the real satisfaction in that???

      All this – in less than 20 years…..simply astounding.

      Report Post »  
    • butler180
      Posted on July 24, 2011 at 5:31pm

      Little Timmy never paid all the penalties associated with his delinquent taxes. He was allowed to skate.
      Now he wants us to carry the Federal Government and the $14T debt him and his boss the Prez have created.
      Little Timmy is a liar who would not know the truth if it slapped him in the face, SO I do not believe anything he says

      Report Post » butler180  
    • AnnMarie
      Posted on July 24, 2011 at 5:56pm

      I am always constantly amazed how the Dems, including Pres. does not take any responsibility for the shape of this country. I am wondering if in hindsight would they have still wasted almost two years on the healthcare bill while the economy was crashing. I wish someone in the news would ask the President and the Dems this question. Should be a very interesting response.

      Report Post »  
    • bearlyme
      Posted on July 24, 2011 at 8:52pm

      This is NOT 1994
      In 1994 there was no FOX NEWS
      In 1994 the internet was still in its infancy
      In 1994 there was no such thing as YouTube
      In 1994 there was no such thing as FaceBook
      In 1994 the Republican Congress was a new idea
      In 1994 there was no Tea Party
      In 1994 Rush Limbaugh, Sean Hannity and Glenn Beck were just getting cranked up.
      In 1994 there was no such thing as conservative blogs
      In 1994 there was no Drudge Report
      In 1994 America was not on the verge of financial collapse
      In 1994 America did not have a $14 trillion dollar debt
      In 1994 State Run Media still had control of the airwaves
      In 1994 We didn’t have a president determined to bankrupt America
      In 1994 Newt Gingrich blinked.
      DO NOT BLINK… THIS IS NOT 1994… YOU HAVE TOOLS… USE THEM!

      Report Post »  
    • Bum thrower
      Posted on July 25, 2011 at 11:14am

      He needs to call his ‘Wall street “buds”‘ and tell them ot ’make a contribution‘ or he’ll get them a deal they won‘t like and can’t refuse…..

      Report Post »  
    • bookofdaniel
      Posted on July 26, 2011 at 11:24pm

      This guy is a lier through and through. He is always looking out the corner of his eye. Very shifty.

      Report Post »  
  • Secessionista
    Posted on July 24, 2011 at 12:24pm

    These clowns can do anything they please, but I am voting against any congressman or congresswoman that votes to increase the debt limit, no matter what riders are attached to it, and if they are not in my district, I will contribute money to the other guy in their next election. I will not forget this traitorous behavior by our alleged leaders.

    Report Post » Secessionista  
    • TelepromoterNChief
      Posted on July 24, 2011 at 12:31pm

      I pay far TOO MUCH in taxes.

      Not one of these jack@$$es will ever get a contribution to run for office.

      Report Post »  
    • hauschild
      Posted on July 24, 2011 at 4:46pm

      I stopped donating to the cause years ago, when it stopped being partly “my cause”.

      Report Post »  
    • tower7femacamp
      Posted on July 24, 2011 at 9:22pm

      The powers-that-be have used the “Shock Doctrine” to pass anti-American, fascist legislation while the public was in a state of shock.

      This applies to economic shocks, as well as physical attacks like 9/11.

      What is being discussed would just steal more money from the American people and give it to the richest 1%. For example, Congress is planning on selling off “unused federal property”. Selling off and privatizing public assets and resources is a core tactic in shock doctrine schemes.
      http://www.infowars.com/debt-crisis-being-used-as-shock-doctrine-to-steal-more-money-from-the-people/

      Report Post » tower7femacamp  
  • Utah_Carl
    Posted on July 24, 2011 at 12:22pm

    His body language speaks zillions. Head hung down. Eyes peering out. Frowning.

    Who shot the dog?

    Report Post »  
    • TelepromoterNChief
      Posted on July 24, 2011 at 12:26pm

      The dog wasn’t dead, so the Republicans (who are in charge now) backed up over the dog to finish the job.

      Life is hard for little Timmy the tax cheat.

      Report Post »  
  • Seabee79
    Posted on July 24, 2011 at 12:19pm

    Hey turbo tax Timmie, maybe you should have thought of that when you and the democrats had full control with 2 1/2 yrs to bring a bill up and pass it all by your lonsome selfs.

    Report Post » Seabee79  
  • GittleShel
    Posted on July 24, 2011 at 12:18pm

    It’s so funny how this administration wants more taxes from the so called rich. But so many of them and their chosen ones have a problem paying there own. How about it Geithner & Immelt?

    Report Post »  
  • cloudsofwar
    Posted on July 24, 2011 at 12:17pm

    little timmy only does his masters bidding. BO wants a default so he can blame the republicans. you can’t waist a crisis even if you make it yourself. it’s younger women, faster hores, older wiskey, MORE MONEY. BO likes the MORE MONEY part. 200 billion dollars per month in tax revenue going into the treasury and thats not enough for BO. BO marxist in chief. did i tell you he’s black, quote BO.

    Report Post »  
    • right
      Posted on July 24, 2011 at 12:25pm

      Next thing you know he’ll have Tom T singing at the WH. Or maybe not. Tom would turn him down.

      I feel so good with the tax cheat telling us how much MORE MONEY he needs.

      Report Post »  
  • TelepromoterNChief
    Posted on July 24, 2011 at 12:16pm

    Remember Timmy, your buddy Barak pushed you to convince America that all the spending up to this point would help.

    Have you read the news lately that isn’t controlled by your Administration?

    Yes, the real news that you despise so much because it speaks the truth.

    Yeah, everything you have done up till now has FAILED.

    That means YOU have FAILED.

    You have ZERO credibility little man.

    Report Post »  
    • cloudsofwar
      Posted on July 24, 2011 at 12:24pm

      and you think Timmy cares what we the people think?

      Report Post »  
    • TelepromoterNChief
      Posted on July 24, 2011 at 12:36pm

      CLOUDSOFWAR

      I am sure he has a hard time being a “normal” and going anywhere in public without being heckled.

      Report Post »  
  • cannon12pdr
    Posted on July 24, 2011 at 12:15pm

    I say to the house to stop funding the purchase of paper and the electricity to the department of treasurey. Idle the printing presses would be a good start. Abolish the Federal Reserve would be a better start. Put Ben B in a vault and let him eat currrency and red ink the rest of his days.

    Report Post »  
  • Barack Must Go
    Posted on July 24, 2011 at 12:12pm

    This guy, Geitner, is as big a lying douchebag as Obama himself, only with a good dose of makes your skin crawl thrown in.

    Report Post » Barack Must Go  
  • chicago76
    Posted on July 24, 2011 at 12:11pm

    If we do not get this spending under control all the debt ceilings and borrowing in the world will not help us, in fact they will add fuel to the fire.

    Report Post »  
  • chicago76
    Posted on July 24, 2011 at 12:09pm

    When did terrible timmy start running our government and telling our representatives what to do? Isn’t this the same guy who got us into this mess to begin with? Why would anyone believe anything this idiot says?

    Report Post »  
  • Slick Willie
    Posted on July 24, 2011 at 12:08pm

    Hey Tiny Tinny…How about you paying your taxes??

    Report Post » Slick Willie  
  • Teleologicus
    Posted on July 24, 2011 at 12:07pm

    It is perhaps petty of me and unfair to Mr. Geithner, but I have simply never trusted this man since it was revealed that he cheated on his personal Federal income taxes and tried to blame it on the tax software he used. I cannot get this single, simple thing out of my head. It makes me wonder why anyone in their right mind would believe him about anything. No doubt this is overly simplistic. He may, as supporters insist, have immense and valuable knowledge that America cannot afford to be without. He may know there is to to know, even more, about the economy. All of this, while unlikely, is possible. None of it can remove the stain of personal dishonor for which this man is most widely known. He cheated on his taxes and blamed it on the software. That should have been the deal-breaker. I still do not understand why it was not.

    Report Post »  
  • 13th Imam
    Posted on July 24, 2011 at 12:07pm

    Is it going to be as good of a deal as he got when he didn’t pay his taxes??
    If John caves were screwed

    Report Post » 13th Imam  
    • cloudsofwar
      Posted on July 24, 2011 at 12:22pm

      we are screwed anyway. the republicans only control the House. there is only so much they can do. but this time they can stop OBAMA and force his hand. make Obama do a executive order then Impeach the Marxist. that is only wishful thinking Harry Reid will never impeach BO.

      Report Post »  
  • JOE
    Posted on July 24, 2011 at 12:06pm

    Timothy Geithner is dreaming on his post like Obama is The amount of money this country is spending would make berine madolf look like a pennie pincher We need to stop pay our bills and let go whatever we dont need ……………………..
    You think this world will have a problem if we started to stop giving money to everyone lol
    THE MARKETS WILL DROP THE WORLD WOULD STOP AND WE will make what we need to make it back out of debt richer than rich and the govt would pay us for being AMERICANS LIKE THE SAUDIS DO FOR THERE PPL ……………..THEY DONT GIVE AWAY THERE MONEY TOO FAST WHY SHOULD WE……

    Report Post » JOE  
  • Sleeve
    Posted on July 24, 2011 at 12:05pm

    Boehner is just playing tough, he will cave in the end… we have NO leadership – we have NO leadership, doesn’t get any simpler then that, Timmy is a puppet and that is it! we have NO leaders!

    Report Post » Sleeve  
    • IBLEEDREDWHITEANDKENTUCKYBLUEGOCATS
      Posted on July 24, 2011 at 12:21pm

      He will cave and a mockery will be made of him and the repubs if he doesn’t cave i believe the dems will pull some magic plan out their butts and when the repubs dont pass it obama allows a default and SS checks dont go out (on purpose) and it all gets blamed on the repubs i may be wrong i hope so but im starting to wonder this is all planned

      Report Post »  
  • TelepromoterNChief
    Posted on July 24, 2011 at 12:04pm

    Okay Timmy. . .. the President of The United States can’t do it, but you can try.

    Please use your big boy voice when speaking with the adults.

    Report Post »  
    • SPOT_OF_TEA
      Posted on July 24, 2011 at 12:17pm

      Its funny how America’s credit rating hasnt been threatened to be lowered during all the massive spending in the past few years……Only when Obama saw an opportunity to raise taxes as part of a package toward supposed fiscal responsibility,did anyone start to worry about the spending joke over the past few years being a problem.They think they found a way to threaten us to raise our taxes….Its all a scam,the spending will not stop..

      Report Post » SPOT_OF_TEA  
    • TelepromoterNChief
      Posted on July 24, 2011 at 12:38pm

      The American people are being HUSTLED Chicago thug style.

      It’s sickening.

      Report Post »  
  • vtxphantom
    Posted on July 24, 2011 at 12:04pm

    Boehner should give them what they need. Cut, cap, and balance.

    Report Post »  
  • americathebankrupt
    Posted on July 24, 2011 at 12:04pm

    I cannot believe this itiot is treasury secretary

    Report Post » americathebankrupt  
  • RightPolitically
    Posted on July 24, 2011 at 12:03pm

    Watch out America!

    Report Post » RightPolitically  
  • americathebankrupt
    Posted on July 24, 2011 at 12:02pm

    I am amazed that someone who has been consistantly wrong for years.Didnot pay his taxes.And lies about a default.When there is cash flow to pay our obligations.But have to prioratize what else gets paid.And not be able to waist money.Keep a job as Treasury secretary!Whats wrong with congress?

    Report Post » americathebankrupt  
  • sWampy
    Posted on July 24, 2011 at 12:01pm

    I have a deal, tax politicians and lawyers at 100% of any income, gifts, etc they make, tax everyone else at 10%, spend 20% less than we bring in that goes into a rainy day fund, with a goal of a zero tax rate in 20 years generating all the revenue we need from interest on the rainy day fund.

    Report Post »  
    • hud
      Posted on July 24, 2011 at 12:13pm

      Additionally, audit every dumbocrap , collect every cent owed, no discounts.

      Report Post »  
  • cloudsofwar
    Posted on July 24, 2011 at 12:00pm

    stay tuned Boehner will be on the tele @ 4pm.

    Report Post »  
  • Maxim Crux
    Posted on July 24, 2011 at 11:56am

    I hope Boehner don’t cave to the tax cheat

    Report Post »  
    • Snowleopard {gallery of cat folks}
      Posted on July 24, 2011 at 12:00pm

      I hope as well that he does not cave in either; yet I am beginning to wonder now if it is a matter of when and how instead of if he caves or not.

      I still feel from all I have seen, heard and read that Mr Obama is still pushing the debt matter on the grounds to collapse or majorly damage the integrity of the economy and the global markets in regard to the US. No matter what happens, or what deal is achieved, the Right will get blamed like hades unleashed for the outcome and Obama will be crowing over his “Victory.”
      http://artinphoenix.com/gallery/grimm (new art added)

      Report Post » Snowleopard {gallery of cat folks}  
    • Dont-hate-on-me-2
      Posted on July 24, 2011 at 12:13pm

      I hope they dont cave for some stupid deal, but no matter what we have to remeber that the liberals had a super majority in the house senate and potus, It will be a do nothing congress for the simple fact that the republ are now the wall the people needed to halt the worst pres ever agenda. I dont expect much of anything from the law makers till we get the idiot and chief and his cornnies out of office. Remeber the goal here, we sent a clear message last nov, we will send it again in the next election just remeber, the repulicans only control the house. they do however have a good postion to push thru what the American people want , at least in certian levels of success. dont harp if we dont get everything we wanted. What i would suggest is keeping the fire under thier butts tho, let them know we are watching. The only reason harry reid put up such a fuss about the last bill we sent up is because it was exactly what America needed in one form or the other,. It was dangerous to the liberal program. They are trying my fellow Americans but they are only 1/3 of the process.
      Stay strong
      keep the fire going
      vote the dems out and dont vote in liberal moderate repulicans
      read the Constitution it is as strong today as it was yesterday and the best hope for America

      Report Post » Dont-hate-on-me-2  
    • Slick Willie
      Posted on July 24, 2011 at 12:30pm

      Sorry to say he did cave in…The deal he walked away from Friday increased revenues (taxes) by 800 million. But obummer wanted another 400 millions added to total 1.2 trillion in new revenues.

      The gang of six proposal is a DISASTER…It WILL destroy the USA. (that’s the ultimate goal of this
      president)

      Bernie Sanders (I-VT) pretty much explains it here: http://www.youtube.com/watch?v=ChcrSlDZ96U

      Report Post » Slick Willie  
  • Falconer
    Posted on July 24, 2011 at 11:56am

    They call him the boy wonder, I call him wonder bread, all air, no substance. How the heck did this a$$ clown become the Secretary of the Treasury? Oh that’s right, he was appointment by the head A$$ Clown.

    Report Post »  
    • TX_45_ACP
      Posted on July 24, 2011 at 11:59am

      He should be seeking to complete hand over his resignation by the afternoon.

      Report Post » TX_45_ACP  
    • TelepromoterNChief
      Posted on July 24, 2011 at 12:07pm

      TX_45_ACP

      That is EXACTLY what the American people demand from lil Timmy.

      Report Post »  
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