The National Debt Has Increased More Under Tim Geithner Than Under Any Treasury Secretary In U.S. History
Details below including a list of the top 8 debt-accumulating Treasury Secretaries.
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Treasury Secretary Timothy Geithner oversaw the largest increase in the national debt of any Treasury secretary in American history, presiding over a $3.7 trillion increase in the debt. According to data from the Treasury Department’s Bureau of the Public Debt, the national debt has increased $3,723,575,990,130.10 from Jan. 26, 2009 until June 30, 2011, Geithner’s entire tenure to date as Treasury secretary.
When Geithner took office the total national debt stood at $10.6 trillion. As of June 30, 2011, it had risen to $14.3 trillion.
In fact, the debt accrued under Geithner is greater than all federal debt accrued in the first 204 years of the nation’s history. The national debt did not reach $3.7 trillion until October 1991, according to historical Treasury data that reaches back to 1791.
Geithner, who reportedly may step down from his position soon, has overseen the accrual of more federal debt (in only 2.5 years) than every Treasury secretary combined from Alexander Hamilton to Nicholas Brady, who was Treasury secretary in October 1991 when the national debt reached $3.7 trillion. Since then, the federal debt has increased by historically large amounts under each Treasury secretary since Brady but not to the level it is today under Geithner. The debt increases under those secretaries are presented below.
Nicholas Brady (9/15/88-1/17/93): $1,564,862,000,000.00
Lloyd Bentsen (1/20/93-12/22/94): $559,880,257,144.59
Robert Rubin (1/11/95-7/2/99): $815,560,432,731.13
Lawrence Summers (7/2/99-1/20/01): $109,651,004,604.88
Paul O’Neill (1/20/01-12/31/02): $677,930,718,549.89
John Snow (2/3/03-6/30/06): $2,040,609,369,491.81
Henry Paulson (7/10/06-1/20/09): $2,218,644,118,047.16
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The new Debt Pledge of Allegiance...
This is outstanding...
Jul 19, 2011 at 4:32 PM
Reader Comments (13)
http://washingtonindependent.com/112390/county-gop-chair-in-colo-accused-of-stealing-17000-to-pay-gambling-debts
First off, he's fucking useless. After growing up in Asia, he majored in what? Asian Studies? International Relations? A junk degree. The pansy couldn't screw in a light bulb without 16 steering committees and 12 white papers.
Second, he doesn't even have the common courtesy to wear a paper bag over his mal-formed face as he apologizes for the most degenerate gamblers in history, Wall Street. Watch him.
Third, he couldn't sell his own fucking house. How pathetic.
Fourth, he just looks like the sort of corporate punk who just needs a flat-out ass-beating.
Fifth, he gets away with dispensing legal opinions about how we had to honor those AIG bonus contracts. Where'd this sniveling worm get his law degree? He didn't. This is lost, of course, on the idiots who populate mainstream news.
Tim Geithner is Wall Street's most adept toilet rinser. History will not be kind.
Geithner can go or stay ... the damage is done
http://www.marketwatch.com/story/geithner-can-go-or-stay-the-damage-is-done-2011-07-06
Experts: Army’s $2.7 Billion Intelligence Computer Doesn’t Work
The conclusion is worthy of reproduction:
"In the near future, the Summers/Geithner legacy could end up costing Obama his second term, while the failure of the Obama team to cut the banks down to size in the wake of the financial crisis all but guarantees a new financial crisis for one of his successors further down the road."
The next financial crisis promises to be a gnarler. Brrrr. The economy is an absolute disaster, and yet apologists for the status quo are legion.
Normally, I'd suffer several panic attacks over the Ken Lewis Misreality we find ourselves in. However, this weekend, I happened upon a dozen or so Midwestern college students. I informed them of their hopeless plight, which they absorbed stoically.
Surprisingly, they were quite well-informed regarding the fraudulent root of the housing bubble. These guys were solid. And they are judiciously angry.
I felt bad for writing off America's youth, particularly when my own contemporaries are so thoroughly ignorant, and lame.
Dear Mr. Obama - Setting The Record Straight
http://whatreallyhappened.com/WRHARTICLES/obamadelusion.php
http://www.activistpost.com/2011/07/obama-urges-shared-sacrifice-for-debt.html
http://www.activistpost.com/2011/07/ten-years-ago-portugal-legalized-all.html
http://www.activistpost.com/2011/07/nude-bound-woman-found-dead-in-big.html
Clinton wasn't so bad after all, was he?