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RNC Chairman Priebus Calls on President Obama to Fire Tim Geithner

- August 8, 2011

WASHINGTON – Republican National Committee (RNC) Chairman Reince Priebus released the following statement calling for President Obama to fire Treasury Secretary Tim Geithner:

“In light of the downgrade of America’s credit rating and the resulting negative reaction in the financial markets, President Obama needs to relieve Treasury Secretary Tim Geithner of his responsibilities – immediately. More than anything, our economy needs a restoration of confidence, which will occur only with concrete action, not more empty rhetoric and political speeches.

The unprecedented downgrade is a direct result of Obama and Geithner’s failure to cut the debt. For two and half years, Republicans warned of the dangers of Obama’s reckless spending.  All the while, he and Geithner proposed record deficits and absolutely no plan to cut spending.  And just four months before this embarrassing downgrade, Geithner vowed it would never happen.  The Treasury Department is no place for such irresponsible stewardship.            .

For the good of the country and the health of our economy, President Obama needs to ask the very person who assured the American people this would never happen to step aside.”

BACKGROUND:

Geithner Said There Was No Risk We Would Lose Our AAA Credit Rating

In April, Treasury Secretary Geithner Insisted That The There Was “No Risk” Of The United States Losing Its AAA Credit Rating. PETER BARNES: “Is there is a risk that the United States could lose its AAA credit rating? Yes or no?” TIM GEITHNER: “No risk of that.” BARNES: “No risk?” GEITHNER: “No risk. …” (Fox Business, 4/19/11)

  • When Asked Again If The US Would Keep Its AAA Rating Geithner Said “Absolutely”. BARNES: “So Standard & Poor's is wrong, the United States will keep its AAA credit rating?” GEITHNER: “You know -- absolutely.” (Fox Business, 4/19/11)
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