Geithner on the Hot Seat

Wow! I could almost vote Republican after this exchange between Congressman Burgess and Treasury Secretary Geithner before the Joint Economic Committee. Since I work for a small business I would say Congressman Burgess is just touching the surface of the fear running rampant through small business owners. Surviving the next six months is scary enough. The recycled Keynesian economic policies of this administration remind us why our government has not used them for over forty years. They just don’t work!

BURGESS: What’s happening in small businesses is people are frightened to add jobs, because they don’t know what we’re going to do to them in health care. They don’t know what we’re going to do to them in financial regulation. They’re scared of what we might do with energy prices in the future with cap and trade. Small business — medium sized business is frightened at jobs right now.

I could help the president and his panel. He doesn’t need another program. We don’t need another stimulus. We need to provide some tax relief and then get the heck out of the way, and the American economy will recover as it has always done.

GEITHNER: That broad philosophy helped produce the worst financial crisis and the worst recession we’d seen in generations. We had a pretty good test of that philosophy — a pretty good test of those policies that did not serve the country well. Now…

BURGESS: Mr. Geithner, when I came here in 2003, we were in a jobless recovery. Tax relief was passed in May of 2003, and as a consequence by July of that year, we were adding jobs at a significant rate. It seems to have worked fairly well.

Geithner on the Hot Seat
Fri, 20 Nov 2009 01:35:33 GMT