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Posts Tagged ‘TARP Watchdog Neil Barofsky’

Tim Geithner: Anything but Transparent

Posted by Larry Doyle on July 20th, 2009 3:14 PM |

Treasury Secretary Tim Geithner

Tim Geithner is anything but transparent. In fact, Geithner exemplifies what is wrong with government today.

Government officials who would not treat your money as they would their own are a VERY dangerous breed. These political animals come in both Democratic and Republican stripes. Despite what Geithner or other officials may say, there is mounting evidence of our government allocating funds, making fiscal decisions, and not promoting transparency in the process. It is no surprise that there is seemingly limited regard for our long-term fiscal deficit.

The public level of exasperation over this mounting deficit is growing and is reflected in regular polling data.  Even today, I see more evidence of this fiscal imprudence which should be SHOCKING to the American public if it were properly highlighted and exposed.

The Wall Street Journal reports, Government Tab for Crisis Could Hit $23.7 Trillion, Official Says:

Government support aimed at cushioning the effects of the financial crisis in the U.S. could reach $23.7 trillion, a special inspector general overseeing U.S. bailout efforts planned to tell Congress on Tuesday.

In prepared testimony for a hearing of the House Committee on Oversight and Government Reform, Special Inspector General Neil Barofsky said the figure included spending and commitments for several agencies that have implemented programs aimed at supporting the economy and the U.S. financial system.

Last I had checked, the figure associated with Uncle Sam’s fiscal spending and commitments ranged in the $10-12 trillion range. Where and how might Treasury double that figure? Where is the transparency in the process? (more…)

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