Blog: Bob Woodward Inadvertently Confirms The Coming Economic Apocalypse: "Turbo Timmy Geithner confesses the desperate nature of the situation. The government is broke. Geithner fears the world knows this when he says: "Suppose we have an auction and no one shows up?" Geithner knows that we cannot finance our deficits using traditional credit markets. The deficits are too large and the government has no credibility regarding the required spending cuts. Geithner was admitting that markets would not allow the US government to continue its profligate ways. That admission is major news, although not to Woodward and his politically-oriented audience."
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