Testifying before the House Budget Committee today, U.S. Treasury Secretary Tim Geithner told Chairman Paul Ryan the following: “We’re not coming before you to say we have a definitive solution to that long-term problem. What we do know is we don’t like yours.”
“We don’t have a plan, we just know we don’t like yours.” Sounds like Geithner served on the Joint Staff.
And as for a “long-term problem”, the CBO projects that the economy will shut down due to debt in 2027, according to Congressman Ryan. That’s only “long term” to someone who isn’t thinking past November 2012.