Feb 7, 2010 9:00am
Geithner: U.S. Will Not Lose AAA Bond Rating
EmailMoody’s Investors Service warned on Wednesday that the triple-A rating of U.S. treasury bonds could be in peril unless the federal budget deficit is reduced or the economy grows more vigorously than expected.
So on THIS WEEK, during our exclusive interview with Treasury Secretary Timothy Geithner, I asked if the U.S. is at risk of losing its triple-A bond rating.
He responded bluntly: “Absolutely not. And that will never happen to this country.”
“When people were most worried about the stability of the world, they still found safety in the Treasuries and the dollar," he continued. "That is a very, very important sign of basic confidence in our capacity as a country to work together to fix these problems.”
Watch Video HERE:
-jpt
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Wow..I’m really inspired by Turbo Tax Timmy. He did so well at the NY Fed…and now.
Tapper, that had to be one of the worst interviews in a long time. You obviously have little knowledge of banking and finance and the questions toward the end were idiotic and were something Barbara Walrets would be guilty of
Posted by: Barney | February 7, 2010, 9:33 am 9:33 am
Let’s destroy the banks and drive the markets into the ground. Let’s drive our debt levels up to the point they will never be paid. Let’s cripple big business and small business to the point no one wants to hire or can hire. Let’s just destroy every area of this country and make all men, women, and children dependent upon the government. Now let me send my youngest son Timmy to lecture the people about responsibility in spending and tax cuts.
Posted by: Rueuhy | February 7, 2010, 9:56 am 9:56 am
Ya whatever Timmy, we might get foreign lenders to loan short term, but I guarantee this will not last but a decade more. China and others will offer their own sovereign debt and it will look much more attractive to investors knowing that China will make good on it.
Posted by: Huh | February 7, 2010, 10:45 am 10:45 am
The bailouts won’t cost the American public a dime? Last time I looked the United States is piling trillions in debt on future generations to counter the damage the financial system has done to its ‘host’ country. Is the financial system going to pay back all the debt?
Posted by: Joe | February 7, 2010, 11:19 am 11:19 am
His answer shows the problem with our current economy policy. No need to even consider those consequences we’re the US. Imagine if every financial person looking at a bottom line had that attitude, no need to even think we could ruin our bank let’s just acquire these cheap, bundled mortgages after all they are being traded so they must be sound. Sorry but if Moody’s the people who assign the rating are saying it then we ought to listen. His lack of even considering it shows a big blind spot and an ideological perspective that I think will not serve our country well.
Posted by: GO | February 7, 2010, 11:20 am 11:20 am
The Treasury Secretary didn’t answer your question on responsibility
Posted by: S. Ganns | February 7, 2010, 11:26 am 11:26 am
Example of how our government leaders are truly in a delusional denial of basic grade school math facts, this debt and taxes are destroying the USA and causing the job losses that are in excess of 8 million in just two years. We need to balance budget, pay off debt and reduce taxes, period.
Posted by: Wayne Gorsek | February 7, 2010, 1:07 pm 1:07 pm
Ha! How about a little background on how the ratings agencies aided and abetted the recent financial disaster?
How can you cite Moody’s without mentioning their corruption and its consequences?
Posted by: Flash Override | February 7, 2010, 1:17 pm 1:17 pm
More than 37 million receive food stamps. with 20,000joining the club everyday.
99 weeks of unemployment compensation.
The Democrats know that dependency keeps them in office–people are enslaved to the government and afraid of losing the handouts.
The Dems elitist supporters are more afraid of losing the millions supporting
the Endowment of the Arts—snobs.
Tax cheat Tim like the rest of Team Obama is either in denial or purposely misleading the people.
Posted by: kyle | February 7, 2010, 1:46 pm 1:46 pm
I think we might understand spending to keep the economy moving but going into debt with a plan to pay it back is one thing but spending and not having a clue as to how you’ll pay it back is another. For example we understand money to keep people from starving yet none of us understand money spent in fictitional congressional disticts and partying like it is 1999 by the congress; things like $2200 hundred hotel rooms and meals and booze for the likes of Nancy and her entourage.
Accontability and being frugal with money is alien terms to those who Govern us.
Posted by: david | February 7, 2010, 2:24 pm 2:24 pm
kyle, thousands of those receiving food stamps are our soldiers and their families. Why do you hate our troops?
Posted by: Flash Override | February 7, 2010, 2:25 pm 2:25 pm
If you are serious about doing something positive to bring down government spending, call Sen Shelby and tell him to stop trying to extort millions of dollars he wants in earmarks for a foreign manufacturer.
Posted by: Flash Override | February 7, 2010, 2:28 pm 2:28 pm
It is the Obama administration and Tax-Cheat Timmy, and they alone, who are issuing the debt instruments that the world is becoming increasingly reluctant to buy.
Why does Obama keep saying that he “inherited” a budget deficit for which he himself voted, and George Bush did not?
And if that deficit was bad, why has he enlarged upon it in each of his first two Fiscal Years? Why does he fear the sensible proposals of Paul Ryan to restore fiscal sanity and integrity? Because he is a hyperpartisan fool who has no idea what he is doing.
Worst President in History.
Posted by: Fascist Hyena | February 7, 2010, 2:37 pm 2:37 pm
Jake,
This was the worst interview I’ve ever seen you give. Most of your questions were softballs and the few hardballs you threw at Mr. Geithner were completely dodged…and you didn’t follow up.
I used to think you were the next Tim Russert. After today’s dismal performance, I’m not so sure any more.
Posted by: Dave | February 7, 2010, 2:43 pm 2:43 pm
This is without a doubt the MOST arrogant condescending liar I have ever seen.
Posted by: Dave | February 7, 2010, 3:38 pm 3:38 pm
Ha! How about a little background on how the ratings agencies aided and abetted the recent financial disaster?
How can you cite Moody’s without mentioning their corruption and its consequences?
_______________________________________
Yes because Mr. Geithner and the government are all a bunch of innocent victims devoid of curruption and consequences on the current fiscal crisis.
If Moody’s plays with their ratings they stop being Moody’s. If they’re wrong the market will work that out.
However the fed gov’t overreaches, showed itself to be as corrupt as it is and has lost trust. Even though we have to wait the electorate will work that out as well.
Posted by: GO | February 7, 2010, 4:21 pm 4:21 pm
How do you get a AAA rating when you’re 12 trillion $ in debt, and no way to pay it back?
Posted by: stan | February 7, 2010, 4:38 pm 4:38 pm
Maybe we haven’t lost the AAA rating YET, but we will if we continue the course we are on now!! — It’s unsustainable!
Posted by: TheLoyalOpposition | February 7, 2010, 4:41 pm 4:41 pm
The bare statement “And that will never happen to this country” is so arrogant that it undercuts credibility on anything else he says.
If you can’t even conceive of fatal risks, and reckon with trends for printing and spending money foolishly, you don’t have any business being Treasury Secretary.
Posted by: Unconvinced | February 7, 2010, 6:21 pm 6:21 pm
Treasury Secretary Geithner appears to still be in the denial stage of the five stages of grief. His boss (the President) is moving from the anger to bargaining stage. I sence that many Democrats are in the depression phase. Beginning next November they should be ready for acceptance.
Posted by: tillyerkt | February 7, 2010, 6:29 pm 6:29 pm
Treasury Secretary Geithner appears to still be in the denial stage of the five stages of grief. His boss (the President) is moving from the anger to bargaining stage. I sence that many Democrats are in the depression phase. Beginning next November they should be ready for acceptance.
Posted by: tillyerkt | February 7, 2010, 6:29 pm 6:29 pm
What a disappointment from Jake. Why would you let Tax Cheat get by with making an idiotic statement like that and not challenging him? News flash Jake, just because Geithner or Obama say something, it doesn’t make it true. DO YOUR JOB!
Posted by: wheresmymoney | February 7, 2010, 9:40 pm 9:40 pm
Yea and unemployment won,t go above 8%,
you need a new crystal ball Geithner !!!
Posted by: hkdakota | February 8, 2010, 6:21 am 6:21 am
What socialist/communist nation has a AAA rating? Jobs and the economy always tank with communist idiots in. Always.
Posted by: horseforfeathers | February 8, 2010, 6:40 am 6:40 am
We have heard many empty promises, from this administration.
Posted by: Rick McDaniel | February 8, 2010, 12:49 pm 12:49 pm
I agree with the notion that this was a softball interview. You let him off the hook on important issues. Also you never pressed him on what is the single most important issue associated with risk that still exists in the banking system. You needed to ask him to tell us specifically what is being done to get banks out of the business of taking our deposits and gambling with them at the derivatives gambling table to the tune of $ 180 Trillion plus in the US and $ 600 Trillion plus globally. He and congress and others keep papering over this issue, and yet is the single biggest risk to the entire economic system and involves amounts that no government on earth can bail out. Other failures in the system dwarf this risk, and yet nothing is being done by the media to reveal which banks are gambling with our money and how many of our deposit dollars and now tax dollars are being used by the big banks to literally place bets on things like whether interest rates will go up or down. Why aren’t you reporting on this?
Posted by: Bill | February 8, 2010, 1:20 pm 1:20 pm
Let’s see now, Palin has a few notes on her hand to deliver a 50 minute speech and the left goes nuts and BO can’t go to a meeting with 1st graders without his teleprompter ? And where is the story about BO and the word corPsman. He is an idiot to no end.
Posted by: jjj | February 8, 2010, 3:21 pm 3:21 pm
Jake get Peter Schiff to interview Geithner. It would be a crowd pleaser really.
Posted by: Huh | February 8, 2010, 3:22 pm 3:22 pm
this just goes to show you a guy who fudges his taxes should never be running the treasury dept. prior guys were booted for not paying taxes on the nanny or gardener
Posted by: madmax | February 10, 2010, 9:40 am 9:40 am
I couldn’t agree more with “Tillyerkt”.
Never assume something can “never” happen….
Posted by: Matt Prewett | February 10, 2010, 1:25 pm 1:25 pm
I’m sure ABC and the other press will soon going to ask Timothy or Obama about his comments here
Yeah, and I am a Chinese Jet Pilot
Posted by: Aetius | August 6, 2011, 1:59 pm 1:59 pm