A Different Kind of Blog

news and things sacred and irreverent put together by opinionated people.

Tell Us More, Tim

Posted by lawman2 on February 16, 2009

People have been speculating all week about how the economic spendulus bill will affect our financial markets. It certainly will, but the real tell-tale sign is what Treasury Secretary Tim Geithner’s plans are to dethaw our troubled credit markets, the crux of our crisis. We need action from his department to get banks to write off bad debts, creditors to pay off bad debts, and we need banks to start lending again while the aforementioned are happeneing. So far, no sensible solutions have emerged from Team Obama.

Treasury Secretary Timothy Geithner (AP file photo)

Treasury Secretary Timothy Geithner (AP file photo)

On Tuesday, Geither’s speech was supposed to bring some clarity, and we thought, a plan. But instead he told us nothing new. It was as if he showed up for the SATs without a No. 2 pencil. Not only was his anti-climactic announcement vague, he appeared more shaken and unsteady than the market in his presentation. News outlets and the Blogosphere made fun of his small stature. But frankly, I don’t give a hoot if Tiny Tim is vertically challenged. I care that he’s short on details.

Geithner’s lackluster performance on Tuesday demonstrated once more that you can fool the left, you can fool The New York Times but you can’t fool the markets.

His boss, President Obama, didn’t do him any favors. Monday night at his first prime time press conference, Obama billed Geither’s speech the following day as the main event on the economy and he dodged questions that related to our credit markets. He explained, in so many words, that his guy would put to the media’s concerns to rest at his press conference the next day. After facing a rough couple weeks over his tax troubles the last thing Turbo Tax Timmy needed was second strike. But he certainly got one. His lackluster performance demonstrated once more that you can fool the left, you can fool The New York Times but you can’t fool the markets. (They tanked after Tim’s address).

Aside from the spendulus being an ideologically and economically unstable solution, Obama and his administration are dropping the ball when it comes to leadership.

In fact, the more Obama talks down the economy and uses phrases like “catastrophe” the more likely it is to become a self-fulfilling prophecy. The more people hear their commander-in-chief predicting financial Armageddon, the more people will be afraid to spend. The tax credits in the stimulus for buying a new home or a car will prove fruitless if Obama scares the nation into thinking they can’t afford to buy a home or a car. Note to President Obama: you’re the leader of the free world, not some state senator from Illinois anymore. People actually give damn what you say, and what you say directly affects the confidence of our country.

Until our president and his paperwork challenged Treasury Secretary give us anything but amorphous and vague platitudes when it comes to their plan for our credit markets–the center of our economic woes–our country will continue on a rapid, economic dissent. It’s time for Tim to tell us more.

By Andrea Tantaros
Republican Political Commentator/FOXNews.com Contributor

http://foxforum.blogs.foxnews.com

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