The Campaign of Economic Shock and Awe Continues… Tim Geithner: ‘We Can’t Protect the American People’ & Constitution to be Torched by New ‘Super Congress’

July 25th, 2011 · · Economy, Hotlist, Politics & Government

The Campaign of Economic Shock and Awe Continues… Tim Geithner: We Can't Protect the American People, Constitution to be Torched by New Super Congress No rest for the wicked… Geithner issues another ominous threat as the Two-Party Oligarchy uses this “manufactured crisis” to torch the Constitution by creating a new “Super Congress.”

After Economic Death Squad Leaders Tim Geithner, Hank Paulson and Ben Bernanke met on Friday to discuss “contingency plans,” in case the deficit ceiling was not raised by Congress, the debate in Congress quickly unraveled. Geithner then appeared on “Fox News Sunday,” and refused to reveal any details of this contingency plan. But he did issue another ominous threat, “We do not have the ability to protect the American people from the consequences of Congress not taking that action.”

Yves Smith was on The Real News Network calling the deficit debate extortion: “The finance sector used extortion against the American people in 2007-09 and are doing it again now.” She draws important parallels between this deficit crisis and previous acts of financial terrorism, like the collapse of Lehman Brothers and the TARP bailout.

And if all this wasn’t enough for you already, here comes the Constitution shredding “Super Congress.” As Ryan Grim revealed:

‘Super Congress’: Debt Ceiling Negotiators Aim To Create New Legislative Body

“Debt ceiling negotiators think they’ve hit on a solution to address the debt ceiling impasse and the public’s unwillingness to let go of benefits such as Medicare and Social Security that have been earned over a lifetime of work: Create a new Congress.

This “Super Congress,” composed of members of both chambers and both parties, isn’t mentioned anywhere in the Constitution, but would be granted extraordinary new powers. Under a plan put forth by Senate Minority Leader Mitch McConnell (R-Ky.) and his counterpart Majority Leader Harry Reid (D-Nev.), legislation to lift the debt ceiling would be accompanied by the creation of a 12-member panel made up of 12 lawmakers — six from each chamber and six from each party.

Legislation approved by the Super Congress — which some on Capitol Hill are calling the “super committee” — would then be fast-tracked through both chambers, where it couldn’t be amended by simple, regular lawmakers, who’d have the ability only to cast an up or down vote. With the weight of both leaderships behind it, a product originated by the Super Congress would have a strong chance of moving through the little Congress and quickly becoming law. A Super Congress would be less accountable than the system that exists today, and would find it easier to strip the public of popular benefits. Negotiators are currently considering cutting the mortgage deduction and tax credits for retirement savings, for instance, extremely popular policies that would be difficult to slice up using the traditional legislative process.” [continue reading]

The economic shock and awe campaign continues – no rest for the wicked…