Not only is Timmy Geithner a tax cheat, but it doesn’t seem Geithner’s very good at math either.
In other words, Geithner was off by $100 billion dollars. That’s not a rounding error; it’s a gargantuan mistake. Or a lie. Take your pick. It’s like choosing between “tax evasion” and “simple misunderstanding”.
Treasury continues to insist that Geithner had it right. The GAO, they say, are double-counting commitments and “underestimating potential paybacks.” Potential paybacks? That sounds as though the money has already departed, and they’re counting on some of it floating back into the fund. That would make the GAO more likely to be correct, and Geithner more likely to be either wrong or lying.
It has become very obvious that the Obama administration and its Treasury Secretary are floundering on the economy. Not only have they not been able to find staffing for the effort, now they can’t count. How much longer will this go on before Congress demands a change at the top?
But heck, what’s math to a bona fide financial genius like Timmy? I mean, Obama told us that nobody can get us out of this financial mess we’re in except for Geithner. And, we all know Obama’s never wrong, so let’s cut Timmy a bit of slack okay?
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