With Tom Daschle and Nancy Killefer withdrawing their nominations yesterday because they were too important of Americans to pay their taxes…. the time is NOW for Treasury Secretary Timothy Geithner to step down.
The rationale is that “only Geithner” can somehow stop the slide into the Second Great Depression, so he is too invaluable to lose over some pesky tax thing.Â Really?Â Well just about a year ago was when we first started hearing about how the 2nd Depression was looming and Hank Paulson seemed to handle the job quite well — even if you disagree with the policies and speed in which he acted.Â Â Hey, how about Larry Summers?Â He’d be fine, if you have to put up with a Democrat manipulating economic policy.
My point — NO ONE is indispensible.Â That’s how the private sector operates — for good or bad.Â Just what gives the folks in Washington the idea that they are above the law or above accountability?Â Â Secretary Geithner is a cancer on the Obama Presidency.
Geithner’s tax crimes are worse than anything that anyÂ member of the Bush Administration did while in office, including Scooter Libby.Â No, I’m not defending lying under oath.Â But I am asking for some relative comparison here.Â Geithner broke the law and has never answered for it.Â And HE is our Treasury Secretary?
I’m calling my US Senator and the White House today.Â Geithner must go.Â President Obama is a complete hypocrite if he allows Geithner to remain in office.
[Ed. Note — This rant was inspired by the excellent argument laid out yesterday by Larry Kudlow at The Corner; he being my “personal economic guru hero”… if there is such a title.]
UPDATE (from Dan): While I pretty much agree with Bruce, I should just say for the record that I don’t think Nancy Killefer should have stepped down due to her tax problem. As I wrote in my post on the revelation of her late tax deliquancy, she “resolved” it “before Obama tapped her.” Neither Daschle nor Geithner addressed their problems until after they had been tapped for positions in the president’s cabinet.