Geithner says Romney’s statements on women are 'misleading and ridiculous'

Geithner says Romney’s statements on women are 'misleading and ridiculous'

Boston : MA : USA | Apr 16, 2012 at 7:22 AM PDT
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Treasury Secretary Timothy Geithner has commented on Mitt Romney's statements in which he said that women made up almost all jobs lost during the Obama presidency. "It's misleading and ridiculous," Geithner said on CBS News' "Face the Nation". "It's just a political moment."

On the campaign trail, Romney attempted to turn the discussion towards women and the economy, pointing finger at President Obama for hurting women economically. Romney said the president's policies were waging "the real war on women," pointing to a statistic that women make up 92.3 percent of jobs lost since Mr. Obama took charge as the president.

In response to queries by host Bob Schieffer, Geithner said, as reported on CBS News, "You have to look at the whole duration of the recession. The recession started in 2008. It was already a year in the making before President Obama came into office."

He also said that men lost the most jobs at the beginning of the recession, due to construction and manufacturing job loss. Geithner, however, admitted that the second part of the recession saw more female job losses, because of teacher and education layoffs due to state budget cutbacks.

Schieffer inquired, "Basically you're saying that Romney is right?"

To that, Geithner replied, "It's a meaningless way to look at the basic contours of the economy in that period of time, again because it starts artificially at a time when the president came into office and the crisis was still building momentum."

Regarding the "Buffett Rule," which would impose at least a 30 percent tax on those earning more than $1 million per year, Geithner said that it was a "balanced" way to grow the economy.

"We have to get the economy growing, repair the damage from the crisis, get more people back to work," Geithner said. "And we've got to make sure we put in place a balanced plan to bring down our long-term deficits."

Annoying critics who oppose increase in tax, Geithner explained that the amount raised for the federal treasury would be "modest." He also said that extending the 2001 and 2003 Bush-era tax cuts would add to the deficit.

"We just can't afford to borrow to do it anymore, and we have to preserve room (for) these other priorities," Geithner said. "And as part of that, again, we're going to propose to raise a modest amount of additional revenue from the most fortunate Americans."

The White House has announced earlier that the “Buffet Rule” would raise $47 billion.

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Timothy Geithner
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Michelle Lincaster is based in Boston, Massachusetts, United States of America, and is a Reporter on Allvoices.
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