U.S. House Republican leader John Boehner Tuesday called for the resignation of President Barack Obama’s economic team, including Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers. Boehner, in the text of a speech to be given in Cleveland, called for a “fresh start” on the economy.
“President Obama should ask for — and accept — the resignations of the remaining members of his economic team, starting with Secretary Geithner and Larry Summers, the head of the National Economic Council,” Boehner said.
“Now, this is no substitute for a referendum on the president’s job-killing agenda. That question will be put before the American people in due time,” he said.
“But we do not have the luxury of waiting months for the president to pick scapegoats for his failing ‘stimulus’ policies.”\
I truly believe the whole lot of them should resign. They have had more than 19 months
to enact legislation to get our economy going. And will all of the dubious goings on with
the Democrat higher ups, someone has to be held accountable. And President Bush should
no longer be the scapegoat.
It is time for obonehead to resign.
The one thing I hoped for when Obama was elected was brilliance and competence in the people surrounding him. That has definitely not been the case. There are so many things they could do to assist business in changing this economy and they are just stubborn and won’t do it!!! Oh well, I guess why the rest of us can’t eat – they are enjoying their vacations with the elite!
Okay, Mr. Boehner, what is your solution? I mean, other than gutting social security, larger tax breaks for the top 1%, removing all regulators, denying unemployment benefits and then getting a spray tan. All I hear from this guy is that Obama, and his administration, is bad. He adds nothing to a solution.
The fact is that he, and most every other Republican, does not have a plan. Other than the economic policies that got us into this mess in the first place. From what I can tell, the only plan is to say no. That is not the leadership this Country needs. The scary thing is that our economy is based on perception (not entirely, but it is a big factor) and no one is going to perceive the economy improving (although it HAS..see ecomonic growth..no longer in a recession)if the Republican echo chamber keeps screaming that the sky is falling.
Mr Boehner, if you are not part of the solution, you are part of the problem. Completely out of touch.
@Nate – How much did you complain when Dubya took the most vacation days ever as a President? Hypocrisy is calling you…
Actually, it’s long past time for Boehner to have resigned.
Or, at a minimum pledge to cut back on his obvious addiction to tanning salons.
Then again, perhaps an increase in tanning salons visitations is the major part of the Republican plan to spur small business growth and turn our economy around.
Ugggh,
Please define “economic policies” without the esoteric jibberish. From my perspetive, the mess that we are in is due in large measure to the sub-prime mortgage implosion, the subsequent bundling of said mortgages into OTC securities, traded in the CDO/CDS market. The systemic shock that rippled through the financial market exposed the risks taken by the financial industry and once exposed, the (financial industry) realization that everyone playing the game was going to get burned. After that it became a free fall and it all came crashing down. Note: my summary has been simplified for your use.
The events that transpired therefore were not due to failed economic policy, but due to an overzealous RE industry and co-conspirator Congress who believed that everyone has the “right” (re. CRA) to own a home (regardless of their ability to pay for it) and a willy-nilly CDO/CDS market which was advised of their risky behavior by the CTFC (a number of YEARS) before the shock wave.
The footloose and fancy free dealings of the financial industry can hardly be equated to Bush economic policy because that game was being played long before Bush took office. In fact, one could argue that Bush “inherited the mess” from HIS predessessor.
In summary, the US has experienced 30+ years of tremendous growth (nationally and individually). We are currently experiencing a downward stroke and the current POTUS’ actions do not indicate that the WH has any idea of how to stem the slide. Actions taken to date, by the current admin, have only increased our debt (and therefore our reliance on others) to unprecedented scales. The call for a firing of the economic staff is in order because the curent staff has not generated a plan of attack which would steer us out of debt. Confidence in the current staff is at a record low and it’s not appearing that it will rise anytime soon. It is time to clean house. The Great BO made a mistake and it is time to put individuals in place who can address the problem(s) and provide concrete solutions. Boehner’s “plan” is quite simple. Get rid of the inept and put in qualified people to do the job. Why is that so hard to understand?
about the only thing obama didn’t lie about is when he
said this job was above his pay grade. I guess running a
lemonade stand is also above his pay grade.
He should have staying in the world of academia, where
there is no pay grade
Ugh. The government, led primarily by the Republicans and their charge toward “deregulation,” took many years to get our economy into the mess it’s in now. And you people expect that Obama will wave a magic wand and fix it in a few months??
Boehner is a dishonest pathetic clown and a disgrace to the US congress.
He should stick to his tanning salons, silk ties and bondage clubs
We are in this mess for every scheme that has leverage. Not just the ones pointed out by ethan. Sure housing, CDO/CDS, derivatives all designed to make more greed possible so a few could make astronomical bonus to dry out the middle class. Throw in credit card systems into a leverage economy and we get progress in an instant and the bonunses are out the door before the bills come due to the middle class. Now throw in the fact that the whole equity market, DOW, NASDAC etc are all leveraged to 35 times or more by the people who manage the middle class peoples pension and 401Ks and we have a bigger economic disaster on the horizon that a few job losses. The whole system must collapse because there is no infrastructure in leveraged foofoo.
Theresa, well done. Now you are beginning to understand why I get so annoyed at the terms “Bush tax cuts”, “fat-cat wall street”, and my personal favorite “evil big-business” mantra. These things simply point to an esoteric “evil” and Boy One-der (BO) would have us believe the he is our champion by rallying against them. It is time to stop this nonsense. Either one is in charge or one isn’t.
“get the man” is a wonderful slogan but it has absolutely no meaning because the “man” could be anything or anyone.
I couldn’t agree more that the whole system needs to be revisited to install firewalls and/or clear out the inherent risks. But any action taken will be suspect as long as Congress is in bed with the financial industry. Proof of this is in the latest financial reform legislation that was recently passed.
@Ethan…
Please re-read my comment. I defined the Republican economic policies. That is all I can find on what Republicans stand for. The current administration is doing a clean up job while dealing with a bunch of other things. Could they do more? Yes, but the inaction of Republicans is more indictable. The plan is tax cuts and trickle down economics. (Oh yeah and fire your staff. And while you are at it, just quit now Obama. We want you to fail. Awesome policy.) And, please show me factual evidence of “trickle down” economics is a good policy. Show me where that worked.
Yes the home market implosion was one factor, but there are several other factors you don’t mention or don’t want to bc it undermines your arguments. Have you noticed that the US was a boom and bust economy up until FDR and Congress put financial regulations into place. When Bush completely dismantled them (and Clinton to a degree) what happened? What part did removing regulators, and regulations, or purposely putting inept regulators into place have to do the meltdown to begin with? Who put these regulators into/out of place? Yes, Clinton, to a small degree, but Bush really ran with it. And last time I checked, Bush inherited a budget surplus. And then ran up giant deficits under his watch. How did that affect the strength of the dollar? Also, I recall our economy coming to a halt when Gas got over $4 a gallon. Do you remember all the extra fees for gas that was put onto everything and how public perception was that everyone would not spend money bc it was too expensive to fill up their cars? Who benefitted from that? You say you are simplefying your argument, when your argument is just simple.
Defending Bush is fools argument. (Really, your are being a Bush homer here.) The proof is in the pudding. What is so hard to understand?
Also look up the definition of esoteric and explain to me how your use of the word is correct.
ugggh,
here’s what you say;
“1) gutting social security, 2) larger tax breaks for the top 1%, 3) removing all regulators, 4) denying unemployment benefits and then 5) getting a spray tan” and “6) does not have a plan. Other than the economic policies that got us into this mess in the first place”
All I’m asking for is a little accountability in your post. Please provide the proof to your statement, because I happen to disagree with you. Your claim is now that I am “defending Bush” (whatever that means), or that I am a Bush homer (whatever that is). How about, “I am someone who disagrees with you”? Or is that too much to ask?
If you can remove your head from your posterior end for a minute and get past your hatred of Bush, please provide proof for your 1st post. And please clarify your second post. Were the regulators removed or were they replaced under the Bush admin? Your 1st post claims that they were removed. Which post is correct? There is a difference.
Esoteric: “intended for or understood by only an initiated few” synonyms include: obscure, mysterious, impenetrable, cryptic, arcane. Pick one and insert into my post, they’re all the same. Do you need a definition of jibberish?
Last, two key players of Obama’s economic finance team have resigned (thank God). Boehner’s is simply asking Obama to rid himself of the rest of his staff as their collective performance over the last two years have really sucked. Why is that such a hard concept to grasp? I don’t question Boehner’s motives, I applaud his courage. What plan is required? Plans require executioners, and the proof is in the pudding as you say. The current economic team is/was not getting the job done. You can blame Bush until your blue in the face, but it’s time to cut your losses and run. Obama made bad choices for his cabinet post and it’s time to change the guard.