Thursday, January 22, 2009

Timothy F. Geithner - Future Treasury Secretary

Timothy Geithner, former President of the Federal Reserve of New York, is well on his way to become our next Treasury Secretary after todays Senate Panel recommendation. To me when I hear the title Treasury Secretary, I connect it to signing our money. So it led me to think, "What does this person do within our government other than signing our currency?"

Below are a few excerpts of the job description:
"The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government. The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt."
It seems like the job requires a lot more than just "signing" money. Geithner is more than qualified for the job, but why would Obama continue to support a tax evading future Treasury Secretary. Geithner did not pay $34,000 in taxes between 2001 - 2004. He says it was an honest mistake and Obama says, "OK." This has to be a joke, right? The guy who is evemtually going to run our "money department" did not pay his taxes four years straight and it's an honest mistake? I would buy that if he missed one year and then corrected it. How can this be justified as an honest mistake when his mentors are two former Secretaries of Treasury (Lawrence Summers and Robert Rubin).

A lot rides on this job considering the economic situation we are going through. As mentioned in the job description, the Secretary "is the principal economic advisor to the President....". Let's hope for the best !!

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