Geithner criticizes Romney's 'ridiculous' analysis
April 15th, 2012
11:46 AM ET
2 years ago

Geithner criticizes Romney's 'ridiculous' analysis

(CNN) – Treasury Secretary Timothy Geithner on Sunday called Mitt Romney's argument that women have been disproportionately affected by the economic downturn "ridiculous."

Geithner said Romney's premise that 92.3% of the jobs lost in the country were among women has been debunked, adding that men, women and families alike have been hurt by the economy.

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"It's a ridiculous and deeply misleading look at the economy," Geithner said on NBC's "Meet the Press." "Remember the recession and the crisis started at the beginning of 2008 before the president took office. It caused a huge amount of damage to men, to women, to families. And the damage lasted for a time, and you're still seeing the scars of that."

Both sides of the political aisle have accused their opponents of waging a "war on women." The latest round of attacks came from likely Republican presidential nominee Romney who has repeatedly blamed Democratic policies for a spike in female job losses.

But Geithner said the crisis "hurt everybody," particularly men in the form of construction and manufacturing jobs in 2008 and later women in the form of state and local government jobs, as well as teaching positions.

An analysis of federal labor statistics showed Romney's claim was technically true, but missing important context.

The number of non-farm employed women from January 2009, when Obama took office, to March 2012 did fall far more than the number of employed men in that period, proving the 92.3% figure. However, since February 2010, women have actually gained 863,000 jobs.

The statistic also does not reflect that men constituted a much larger chunk of the job loss pie in the year leading up to Obama's inauguration.

Geithner pointed to the 2008 start date of the downturn, before Obama took office, to help prove his point that the president is now leading the country toward economic growth.

"The president's policies are making the economy stronger," Geithner said on ABC's "This Week." "And the alternatives proposed by his opposition would be devastating, not just to the safety net, but to investments in education, be very damaging to the economy."

Romney spokeswoman Andrea Saul responded to Geithner's comments saying "What's the real risk to America's fiscal future? Four more years of the same failed policies from the Obama administration."

– CNN Political Research Director Robert Yoon contributed to this report.


Filed under: 2012 • Mitt Romney • Tim Geithner
soundoff (288 Responses)
  1. WatchDawg

    ...'missing important context'...says a lot about Romney and his campaign...

    April 15, 2012 04:49 pm at 4:49 pm |
  2. V.K

    Ridiculous!! Now Romney's statistics are "truth" and Obama's statistics are "damaging". Obama came when economy was in dumps thanks to $4.5T debt accumulated by Bush destroying all leverage to shore up economy without running deficits. Mr. Romney was raking up millions thanks to Bush's tax cuts. People the say that Mitt Romney can shore up economy "because he is a business man"..Rubbish!! Just because I can balance by check book does not mean I can balance the national budget!!.

    April 15, 2012 04:55 pm at 4:55 pm |
  3. Just Say No to Flipper

    "Romney will repair this economy.. He's smart, he's a businessman with "smarts".. "

    Wow. the braindead Rmoney groupies are out in droves this Sunday. Anyway. there are no special "smarts" needed to succeed as a vulture capitalist who rips apart companies, screws workers and sticks the US taxpayer with the pensions. However, being an uncaring, money-grubbing parasite like Rmoney probably helps. And please explain how more tax cuts for the filthy rich, and benefit cuts for everyone else, "repairs" the economy. For that matter, how does Rmoney's (and Paul "The Undertaker" Ryan's) deficit INCREASE plan "repair" the economy? You don't know, do you?

    April 15, 2012 04:55 pm at 4:55 pm |
  4. Ex-GOP Con

    ummm...weren't the rich 1% supposed to be creating jobs with their 8 years of the Bush tax cuts? if women were disproportionately effected....then Romney and his 1% are to blame for not creating the jobs they promised.

    April 15, 2012 04:56 pm at 4:56 pm |
  5. RINO Bil

    Republicans like Mitt, Rick, Michele and the other Rick have never let facts, or the truth for that matter, get in their way of attempting to score politcal points. Of course they have not yet reached the depths that Senator Jon Kyl plummeted to, but I am certain most of them will get there.

    April 15, 2012 04:56 pm at 4:56 pm |
  6. Jeetu

    The downturn of the economy has its major impact during 2008 and that continues even today. Had it not been due to Obama's policies, we would have seen an umemployment rate of well over 30% in this country. The downturn of the economy and the loss of jobs was caused by the republican policies and the Bush tax cuts and the republican candidates for US president and other political positions still wish to continue those policies. That is a shame and a con these republicans always portray as being for the people. The fact is that republicans are elitists and they help themselves and their rich friends at the cost of middle and poor classes in USA. Why would anyone vote republican is beyond logic as these republicans ignore all rational data and analysis and want to win on false propaganda by exploiting the emotinal sides of people who are badly hurt by the republican policies of the past that made the rich richer and middle and lower classes poor. We cannot alllow these policies and false statements to win these elections and hence must not vote for any republican candidates in the November elections.

    April 15, 2012 04:57 pm at 4:57 pm |
  7. AgrippaMT

    Once again, Mitt Romney proves himself to be an ignorant, ill-informed fool.

    April 15, 2012 04:57 pm at 4:57 pm |
  8. Carlos

    Connie....Mitt is smart only when it comes to himself. His state was 47th in job creation when he was in charge. He flops so much that even a fish out of water doesn't do. He says only what he needs to depending on who he is talking to. You go ahead and vote for him. The fact that Obama is President puts him under the microscope and his stats and numbers are continuosly under scrutiny. Mitt can't even release his tax return much less stand the scrutiny of the President's. Remember when Smitten's start cutting more budget, will you still have a job and wil your kids still be able to go to school. Oh yeah, you can always home school them since you won't be working.

    April 15, 2012 05:01 pm at 5:01 pm |
  9. roy

    Romney is trying to get elected thus he will flip-flop on any issue to achieve this goal.

    April 15, 2012 05:06 pm at 5:06 pm |
  10. Mt man

    Let the republicant distortions begin.

    April 15, 2012 05:07 pm at 5:07 pm |
  11. Bill

    Geithner, one the prime architects of the worst recovery in post WW II America is now going to give us his expert analysis of things. The proof is in the BLS number for the past three years Timothy. You have had plenty of time to recover. What has happened under your watch is for you to own up to not dismiss and point fingers about.

    April 15, 2012 05:10 pm at 5:10 pm |
  12. davec.0121

    Romney's statement is just another example of the Republicans cherry-picking data (can you say "Iraq and WMD's"?), distorting, and frequently just out-right lying. Romney has already shown that he regards truth is frequently an inconvenient impediment to getting votes, and his own campaign manager characteriized his convictions as "etch-a-sketch". And, as far as he being a "businessman", he actually didn't run the businesses Bain Capital bought, dismembered, and sold. He did financial deals. Besides, history shows that "businessmen" don't make good presidents – just look at the businessman presidents: George W. Bush, Jimmy Carter, Herbert Hoover.

    April 15, 2012 05:20 pm at 5:20 pm |
  13. blake

    Do you trust Geithner? Not me.

    April 15, 2012 05:32 pm at 5:32 pm |
  14. Anonymous

    If I had a choice to invest my life savings with Geithner or Romney easy, Mitt gets all my cash. Alot smarter and more honest.

    April 15, 2012 05:35 pm at 5:35 pm |
  15. angel611

    Romney is toast.
    He is just going through the motions so he can pocket bribe money from the wealthy and corporations (campaign donations).
    Just relax and get a good laugh each time Romney opens his mouth, and puts his foot in it.
    Then when Romney only gets 30% of the vote, we can all get a really big laugh.

    April 15, 2012 05:45 pm at 5:45 pm |
  16. Bob

    Statistics can say whatever you want them to say, so just assume both sides are lying.

    April 15, 2012 05:51 pm at 5:51 pm |
  17. Mike in Texas

    To Janelle, Ray E in Georgia and others of the same ilk,

    Question: What policies did Obama implement that caused mostly women to lose jobs in 2009 and early 2010 as opposed to men?

    Answer: None. It is a trick question.

    Geithner gave the reason for the hi percentage of women losing jobs at the time Obama took over. He told the whole story including how many more men lost jobs prior to Obama. Republicans keep talking about these "failed" policies, yet I never hear what they are.

    The next time Romney is being interviewed (FOX excluded because they won't ask him any tough questions) the interviewer needs to ask him what policy Obama put in place that caused this 92.3% statistic to occur.

    April 15, 2012 05:53 pm at 5:53 pm |
  18. ThinkAgain

    Mittens is trying to somehow regain the women's vote – a pretty steep hill to climb, given how viciously the GOP has been attacking women on healthcare, the freedom to choose what they do with their own bodies, efforts to eliminate social programs that directly affect women and their families (especially single mothers), the opposition to the Lilly Ledbetter Act, which guarantees women equal pay for equal work (and which Repubs are quietly repealing on the local level), support for the Blunt Amendment, and myriad other efforts to harm women.

    Newsflash, Mittens: Your worldview includes thinking that wives should never disagree with their husbands and that, in the eyes of God, women are not as valuable as men. This is FACT – and women not wanting to vote for you should not be a surprise.

    April 15, 2012 05:57 pm at 5:57 pm |
  19. MaryM

    No worries, Romney wont win. Why do you think the intelligent, well informed Repubs are sitting out this election?

    April 15, 2012 05:58 pm at 5:58 pm |
  20. WW_902

    One group that's been singled out for 10 years by GOP policies is that of about 40 million adults who are minimally physically and/or developmentally challenged and are able to work but are in positions that pay substantially less than other similar jobs. About 2002, businesses redefined many jobs and job requirements so the group mentioned would be excluded from being able to perform the job but prior to 2002 no such job description or exclusionary job requirements were listed. I know personally that millions of workers were impacted and required to either quit or accept lower-pay. This is one group the GOP has really left behind. Mitt Romney and the GOP need to develop a proposal before the GOP convention to include these 40-million adults in the workforce at top salaries & not at substandard salaries.

    April 15, 2012 06:00 pm at 6:00 pm |
  21. Mike in Texas

    In 2000 the New York Yankees won the World Series.
    Between 2001-2008 they won zero World Series.
    In 2009 they won the World Series.
    During Bush's Presidency they won zero World Series.
    Based on what Romney says it is Bush's fault Yankees didn't win a World Series during his Presidency.

    Of course he did not, but what I said was true. Just pointing out how weak Romney is. He is trying to tie in to things that are only related by a place in time that is it. Some like Janelle and Ray E aren't very bright and believe it.

    April 15, 2012 06:00 pm at 6:00 pm |
  22. judith

    Romney makes this stuff up out of thin air–it's so very typical of him. Statistically wrong and baseless. In Nevada, one of the states hardest hit by the recession, the worst hits were taken in 2006. Also Mitten's claim that Obama has somehow made it worse is another blatant lie. Much like saying that Ann has some connection with ordinary working women and knows how they feel. The Romney are the polar opposite of the type of people we need leading this country. Clueless, overindulged and entitled–with no idea how ordinary Americans struggle.

    April 15, 2012 06:05 pm at 6:05 pm |
  23. Ancient Texan

    Tax cheat Geithner can't dispute the numbers, but says they are ridiculus....Yeah, that's exactly what Romney was saying too.

    April 15, 2012 06:06 pm at 6:06 pm |
  24. musicdorian

    As the head of the New York FED, Geithner worked to reduce capitol requirements for banks. This means, in plain English, that he worked to reduce the amount of money that lenders kept for emergency purposes. The reduction in capitol requirements was a major factor in the crash of 2008. By the way, his appointment as the head of New York Fed, meant that he was chosen for the position by the heads of some of the biggest banks in NY, who sat on its board. Alan Greenspan, after Bill Taylor died (an honest to goodness regulator) relegated regulation to the NY Fed, which meant that bankers (who sat on the board) could hand pick their own regulator. Geithner was the man they chose.

    April 15, 2012 06:09 pm at 6:09 pm |
  25. Anonymous

    Funny how everyone seems to have answers on how to help the country when running for the presidency,but none gives that info,meaning they really have no clue what to do but to say the other person is wrong.

    April 15, 2012 06:10 pm at 6:10 pm |
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