Geithner cautions GOP: Raise debt or ‘lights out’

Molly K. Hooper and Peter Schroeder
The Hill

Treasury Secretary Timothy Geithner on Thursday warned skeptical Republican freshmen it would be “lights out” for the economy if Congress fails to raise the debt ceiling.

Geithner trekked to Capitol Hill on the same day that Moody’s Investors Services warned that the nation’s perfect credit rating could be at risk if lawmakers do not make progress on a debt deal.

Leaders of the freshman class struck a diplomatic tone after the session, but there was little evidence that Geithner’s argument won anyone over.

“Everything that we got in there from him is a step in the right direction,” said Rep. Austin Scott (Ga.), the president of the GOP freshman class.

Others were more blunt.

Rep. Joe Walsh (R-Ill.) said in a tweet that he was “disgusted and discouraged” by what he heard from the Treasury chief…

The article continues at The Hill.

Read also, Editorial: Dems Refuse To Deal With Their Fiscal Mess

Leadership: It’s been over two years since the Democrat-led Senate last passed a budget, a fact that puts it squarely in violation of the law. So when will the arrests begin?

We say that only partly tongue in cheek, because the refusal of Democrats in Congress to pass a budget or take meaningful steps to head off our looming fiscal disaster is nothing short of a national disgrace.

This hasn’t happened since the budget rules were changed in 1974. Though required by law to pass a budget, Democrats have just said no. Yet the media have largely given them a pass on this willful lawlessness. Why?…

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