Video – Geithner on the Amount of Money Needed to Cover Future Obligations: "It Would Make You Uncomfortable"
More uncomfortable than we already are with the Obama economy?
Here is an exchange between Rep. Trey Gowdy (R-SC) and Treasury Secretary Tim Geithner (The following exchange happened over a few minutes of back and forth. This is a condensed version.):
Gowdy: “If this were the last debt ceiling request you could ask for…the final one and you had to make it large enough for all current and future obligations, what would the request need to be?”…Geithner: “That I’d have to get to you in writing, I can’t do it in my head though.”Gowdy: “How about a round number?”Geithner: “No idea….Gowdy: “$20 trillion?”Geithner: “I just can’t do it in my head.”Gowdy: “$50 trillion?”Geithner: “I don’t know”Gowdy: “A lot? Can we agree it would be a lot?”Geithner: “It would be a lot. It would make you uncomfortable.”
The exchange begins at the 2:20ish mark…