Tuesday, October 25, 2011

Geitner: Higher Taxes Mean Weaker Growth and Longer Unemployment

With 85% of Americans believing that the economy is getting worse, or will stay the same, as polled by CBS and reported by Norah O'Donnell report tonight, no one can be blamed for thinking that Liberal/Progressive Democrats in Washington don't know anything about economics. Sometimes, however, someone slips up on the socialist narrative and tells the truth - higher taxes mean fewer jobs, weaker economic growth, and increased unemployment.

That's what Treasury Secretary and tax scofflaw Tim Geitner said tonight in an interview with Norah O'Donnell.

CBS News

Between time stamps 1:07 and 1:33 -

O'Donnell: Are you convinced we've hit rock bottom? Could there be a second recession?

Geitner: I think that the strength of the economy right now depends on two things - it depends on how successful Europe is in resolving its financial crisis. But, it also depends on people in Washington. And again, if Congress does not act on these proposals in the President's Jobs Act, then taxes go up for all Americans - most Americans, they go up for most businesses, growth will be weaker, Americans will be out of work longer... [CBS seems to have edited out the end of his statement.]

The life of Indigo Red is full of adventure. Tune in next time for the Further Adventures of Indigo Red.

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