Two Republicans call for the treasury secretary's resignation during hearing.
Echoing comments made by a Democratic lawmaker Wednesday night, two Republican members of the Joint Economic Committee today called for Treasury Secretary Timothy Geithner to resign.
"It's been a year since the president was elected," the panel's ranking Republican, Rep. Kevin Brady of Texas, said at a hearing this morning featuring Geithner. "It's appropriate for the American people to assess how well the administration's economic policies are working. They are not. They have failed."
"Unemployment has skyrocketed far past the White House's projections and promises. America continues to shed jobs: More than 2.8 million since the stimulus was enacted," Brady said. "We've had a series of embarrassing investigations about all the wild stimulus claims, the latest fake jobs from fake congressional districts. …
"You are the point man on the economy," Brady said to Geithner. "The buck, in effect, stops with you."
Brady cited comments made Wednesday night by a Democratic lawmaker, Rep. Peter DeFazio of Oregon, to MSNBC's Ed Schultz that Geithner and National Economic Council director Larry Summers should resign. DeFazio told Schultz that President Obama is "being failed by his economic team. We may have to sacrifice just two more jobs to get millions back for Americans."
When Schultz asked if Geithner should stay on as Treasury chief, DeFazio responded "no."
"Conservatives agree that as point person you've failed," Brady told Geithner at today's hearing. "Liberals are growing in that consensus as well. Poll after poll shows the public has lost confidence in this president's ability to handle the economy. For the sake of our jobs, will you step down from your post?"
Replied Geithner, "I agree with almost nothing in what you said, and I think that almost nothing in what you said represents a fair and accurate perception of where this economy is today."
Geithner said it is "a great privilege to serve this president." He reminded lawmakers of the dire economic situation that the Obama administration inherited in January.
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