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Secretary Geithner on FNS: Washington Democrats Have No Plan to End Spending Binge

Appearing yesterday on Fox News Sunday, Treasury Secretary Timothy Geithner admitted that Democrats have failed to put forward a plan to end Washington’s spending binge in exchange for raising the debt ceiling.  Republicans are the only ones in Democrat-run Washington who’ve been serious about controlling spending and helping to end the uncertainty that’s plaguing job-creators.  As Speaker Boehner said last week, “we still have not seen the President’s plan.  It’s time for the President to get serious about working with Congress to solve this impending crisis.” 

See Secretary Geithner’s exchange with Chris Wallace below: 

CHRIS WALLACE: “The president talks about the importance of getting serious about our national debt. But I want to look at the record with your Mr. Secretary. Let’s put it up on the screen. 

• “In December, the president's own debt commission called for $4 trillion in cuts. Mr. Obama didn't endorse any of them. 

• “In January in his State of the Union speech he didn't mention the word debt until 35 minutes in. 

• “In February he proposed a budget to cut the deficit only $400 billion over ten years. The Senate rejected that 97 to nothing. And in April, he offered another plan that was so fuzzy, the head of the CBO said we don't estimate speeches. 

• “Meanwhile, Mr. Secretary, Republicans have offered several specific plans to deal with the national debt.” 

SEC. GEITHNER: “Plans that would devastate the economy, devastate the country…”

WALLACE: “In your opinion. They at least had a plan. They had Ryan plan. They had Cap, Cut and Balance. You guys have had no plan.” 

SEC. GEITHNER: “That’s not fair. In April, the President of the United States put out a framework that would do $4 trillion in deficit reduction over roughly the same period of time.” 

WALLACE: “Which the CBO Director said is so fuzzy he couldn’t even score it.”

SEC. GEITHNER: “He has been spending every day, every week since then negotiating with Republican leaders and Democratic leaders on a framework that can pass and work.” 

WALLACE: “But why have you had no plan?” 

SEC. GEITHNER: “Chris, that’s not fair. I know the Republican leadership says that but it’s just not true.” 

WALLACE: “But CBO, the non-partisan head of the Congressional Budget Office said we can't score a speech.”

It’s clear that Democrats just aren’t serious about stopping our spending binge. Stay tuned as House Republicans continue to fight for economic growth, fiscal sanity, and private-sector job creation in Democrat-run Washington.  

READ MORE: 

Boehner on Fox News Sunday: Debt Agreement Must Keep With Principles of ‘Cut, Cap and Balance’

Boehner: We Still Have Not Seen the President’s Plan to Cut Spending