Tim Geithner (below) failed to pay more than $34,000 in taxes, and Obama chose him as Secretary of the Treasury.
Treasury Secretary Timothy Geithner, who reportedly will leave office at the end of this month, is already responsible for spending and borrowing more money than any of his predecessors as secretary of the Treasury.
The U.S. Senate confirmed Geithner on Jan. 26, 2009. Between February 2009, the first full month of Geithner’s tenure, and the end of November 2012, the last full month for which federal spending records are available, the U.S. Treasury dispensed approximately $13.582319 trillion.
As of the close of business on Jan. 26, 2009, the day Geithner was confirmed, the debt of the U.S. government was $10,620,857,710,762.31. As of the close of business on Jan. 2, 2013, the debt of the U.S. government was $16,432,705,914,255.48. That means that, so far, during Geithner’s time at Treasury, the debt of the U.S. government has increased by $5,811,848,203,493.17.
That is a jump of about 54.7 percent in a little less than four years.
During the time that Geithner has been Treasury secretary, the Treasury has borrowed about 43 cents of every dollar it has spent. READ MORE