Tag Archives: Bernard Goldberg

Treasury Secretary Timothy Geithner on what would happen if we did not raise the debt limit: “We’d have to stop making payments to our seniors — Medicare, Medicaid, Social Security. We’d have to stop paying veterans’ benefits. We’d have to stop paying all the other payments on all the other things the government does. And then we would risk default on our interest payments. If we did that, we’d tip the U.S. economy and the world economy back into recession, depression.” None of which is true, of course.