THE BIG FAIL: Putting The Pedal To The Metal

Geithner Takes The Wheel From Thelma And Louise In Flirting With Going Off The Fiscal Cliff

Today, Secretary Of The Treasury Tim Geithner Couldn’t Promise That Obama And The Democrats Wouldn’t Send The Nation Off The Fiscal Cliff. FOX’s CHRIS WALLACE: “Last question, can you promise that we will not go over the cliff?” TREASURY SECRETARY TIMOTHY GEITHNER: “No, I can’t promise that. That’s a decision that lies in the hands of the Republicans that are now opposing increases in tax rates. If they recognize the reality that we can’t afford to extend those tax rates, then we have the basis for an agreement that will be very good for the American people.
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” WALLACE: “And the president bears no responsibility? It’s all up to the Republicans?” GEITHNER: “Chris, ask yourself this question: why does it make sense for the country to force tax increases on all Americans because a small group of Republicans want to extend tax rates for two percent of Americans? Why does that make any sense? There’s no reason why that should happen. We can’t afford those tax rates. That’s like the deep tragic lesson of the last decade. We can’t afford them, so we’re not going to get through it – we’re not going to the end now without a recognition from Republicans of that basic reality. And that’s going to be the responsible thing to do. And my judgment is they are going to do it because there’s no alternative to that.” (Fox’s ” Fox News Sunday,” 12/2/12)

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Via: GOP.com

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BANKRUPT A 123 SYSTEMS WANTS TO PAY BONUSES TO TOP EXECS

Dow Jones Daily Bankruptcy Review reported that A 123 Systems, the bankrupt recipient of Obama’s department of energy loan, now wants to pay top executives more than four million dollars.

This is what Dow Jones reported:

“A123 Systems Inc., the electric car battery maker that filed for Chapter 11 last week after receiving nearly $250 million in government grants, wants to pay more than $4 million in bonuses to a handful of top executives.

The company is asking Judge Kevin Carey of the U.S. Bankruptcy Court in Wilmington, Del., to sign off on incentive bonuses totaling up to $4.1 million for nine key employees, including several company insiders---namely, corporate officers and directors---pending the sale of its assets at a bankruptcy auction.”

Well done, Mr. Obama. We will use some of the $132 million given to A 123 Systems to reward their top executives, who could never deliver an affordable lithium ion battery!  

But hold on. Was it not Mr. Obama who attacked the bonuses for executives at banks that received bailouts in 2008?  Of course Mr. Obama opined on the matter of these executives being given bonuses. The New York Times on January 29, 2009 quoted Obama as saying:

“There will be time for them to make profits, and there will be time for them to get bonuses,” Mr. Obama said during an appearance in the Oval Office with Treasury Secretary Timothy F. Geithner.  Now’s not that time. And that’s a message that I intend to send directly to them, I expect Secretary Geithner to send to them.”

Via: Breitbart

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