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. Mercfan

    Some people here have selective memories. Geithner was already the Treasury Sec – in Sept 2008. Two months before the Election when the meltdown occurred. Also, TARP was pushed hard by the Bush Admin. What's scary is that the GOP candidates have been repeating these lies for months, thinking if they repeat them long enough the voters will think they are true.

    April 15, 2012 10:32 pm at 10:32 pm |
  2. FlotsamJetsam

    I'm no fan of Geithner but I do think the steps that were taken at the beginning of the Obama administration stemmed a slide into an even deeper recession or even depression. The reality all the bailouts that the Republicans are harping about now would have still passed as even McCain had been a proponent of those.

    But I am convinced Romney and especially the Ryan budget the endorses are a horrible tonic for the current economy and will attempt to instantly balance the budget and do it on the backs of the social programs the indigent rely on. and yet even BIGGER tax cuts for Mr Romney. He needs to stay a private citizen as he is far too dangerous to become president assuming we will still have the Republican do nothing house.

    April 15, 2012 10:34 pm at 10:34 pm |
  3. dave

    12 of the female jobs lost were the nannies who raised Mittens' kids while Annie was driving 'a couple of Caddies' around Massachussettes.visiting their friends who own NASCAR teams

    April 15, 2012 10:34 pm at 10:34 pm |
  4. Dadster

    Yes, one would have to admit that fixing the REPUBLICAN CAUSED PROBLEMS are not easily fixed!

    April 15, 2012 10:37 pm at 10:37 pm |
  5. Taxed to Death in Chicago

    The important thing to remember is it is technically correct. How many statements does Obama make that are technically correct, but completely void of context; i.e. his administration has overseen the largest amount of domestic oil production in 30 years. Yes, technically true, but no thanks to him, it's being drilled on private land.

    Instead of trying to improve the economy is is more concerned about the Buffet Rule, that will bring in enough revenue to run the Federal Government for 11 hours. He should be putting forth a realistic budget that cuts spending and stop waging a war on the 1% that already pay 40% of the Federal Taxes. Instead he attacks the Ryan budget making assumption that don't exist to try to scare women and the elderly.

    Wake up America, your freedoms are being eroded everyday this man is in office. Send him packing in November.

    April 15, 2012 10:41 pm at 10:41 pm |
  6. Saboth

    Just another day for Republicans. Make an outrageous statement with no facts to back it up, then later when it's torn apart, disavow ever saying it. See: Fox News.

    April 15, 2012 11:01 pm at 11:01 pm |
  7. Dan J

    I've heard and read that the vast majority of jobs created during the recovery went to men.

    April 15, 2012 11:01 pm at 11:01 pm |
  8. Wes Scott

    Only a fool votes Republican, and only a super fool supports Romney. The man is a pathological liar. His religion is based upon lies and out-of-this-world beliefs from which rational people flee like rats from a sinking ship.

    The election in November will end all this Romney talk and reduce him to the ranks of other has-been politicians who tried lies rather than truth to sell themselves. Maybe Romney can make a mint off "vulture capitalizing" his own campaign. Now, wouldn't THAT be ironic? Stay tuned. It will probably happen.

    April 15, 2012 11:02 pm at 11:02 pm |
  9. Terry

    The downturn in the economy began in 2001. By 2004, Alan Greenspan was suggesting that the elderly should borrow against the equity in their homes and use the funds to spur the economy. George Bush and Barney Frank joined together in a push to get everyone to purchase a home, with both of them seeing the housing market as the next great boom. A bubble it became, and when George Bush stepped to the microphone in September of 2008, suggesting that the American Banking System was about to collapse, he looked like a deer in the headlights of a tractor-trailer. Two Wars, a Banking Collapse, the Wall Street Bailout and the Bailout of the American Auto Industry all occurred prior to the Election of 2008. It seems to me that the bucket of crap was quite full when the Republicans lost in 2008, and only the lies about Medicare allowed the Tea Party to scare the elderly into electing the Party of NO in 2010. Since everything I just typed can be found in the Library of Congress, to include the "Lifetime Immunity from Prosecution" given by the US Congress to Treasury Secretary Paulson when he created the TARP Bailout of Wall Street, I think I have voted for my last Republican Candidate. As for Mitt Romney, the one thing he has taught me is to move my money into banks in the Cayman Islands and Switzerland.

    April 15, 2012 11:12 pm at 11:12 pm |
  10. bill

    Isn't little timmy the guy who should be in prison for tax evasion?

    April 15, 2012 11:41 pm at 11:41 pm |
  11. jonsnow

    Wow 92.3% WOW, grasping at straws much, how can you enen quantify such a number.

    April 15, 2012 11:44 pm at 11:44 pm |
  12. caeser

    Romney is a fake.

    April 15, 2012 11:46 pm at 11:46 pm |
  13. PhilG

    this election looks so set up it's ridiculous.

    Plastic man is so 1950's ,you'd have to be living in the mountains away from electricity and running water to support his views.

    The Republicans must want to lose this election,that's the only reason a better choice has'nt come forward.

    Big money has put a billion dollars behind Obama and I guess they've paid off the Republicans to field a moron to run against him to guarantee big money's money will not be wasted.

    Congrats President Obama for getting a second term in office.

    Four more years of Democratic and Republican stagnation for the economy.

    Simply wonderful.

    April 15, 2012 11:59 pm at 11:59 pm |
  14. M.K.

    Brain before Mouth is a good bit of advice for anyone that wants to communicate with someone. The Republicans seem to have it backwards.

    April 16, 2012 12:26 am at 12:26 am |
  15. PA Doc1

    "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."" So... so... so... so... There!
    That's tellin' them, Andrea. Beautiful rebuttal. I love the way you nuanced all of the subtleties and pointed out all of the specifics regarding just where it is that Geithner is wrong.

    April 16, 2012 01:03 am at 1:03 am |
  16. simple-truth

    Why do people keep saying Romney was wrong, even though they admit in the midst of their length comments that he is right? In other words, Romney *is* right and Dems are trying to hide this fact..."92% of the jobs lost under the Obama administration were jobs held by women.

    April 16, 2012 01:24 am at 1:24 am |
  17. Limbaugh is a liberal

    I have no job, so it must be the President's fault! The fact that I lost my job under Bush Jr. is irrelevant! The fact that Presidents have no direct control over jobs is also irrelevant! Surely NONE of the job worries have ANYTHING to do with the free-market practices and the profit-hunger of our corporate overlords. It's all about the politicians.
    Politicians who keep convincing us that if rich people pay less taxes, and if I, as a worker, accept lower wages, then these 'job creators' will somehow make me rich as well... by cutting my wages and benefits, or laying me off...

    April 16, 2012 01:29 am at 1:29 am |
  18. Denverdriver

    Romney seems to think that people are dumb enough to believe the falsehoods that he tosses around like confetti, never bothering to correct them.

    April 16, 2012 01:30 am at 1:30 am |
  19. Zil Zerimar

    Mitty Mitty you lied again? Is that really your way of life? To lie. You can fool the republicans but not the American people. We are more Intelligent than them. Next time before you speak, verify first. You are like a loose canon. On other hand , we know that you will say everything just to win. MITT ROMNEY = LIE

    April 16, 2012 01:48 am at 1:48 am |
  20. Joseph Smith

    Romney is a LIAR, just like me...oh wait, did I use my outside voice for that? I mean, the Book of Mormon is true! There really were Lamanites and Nephites in North America even though there is ZERO proof of my fantasy...

    April 16, 2012 01:48 am at 1:48 am |
  21. Peter E

    'Obama is a socialist' and yet he is 'in the pocket of corporate interests.' 'He is redistributing wealth' and yet 'he is giving bailouts to failed corporations.' 'Obama is punishing job creators with taxes' and yet 'he's giving tax loopholes to big business.'
    Let's face it. Obama EQUALS Bush!!! NO CHANGE!!! He lied about delivering change! Obama failed to end American casualties in obscure wars. He continued Bush's policies of invasion of privacy, and suspension of due process in the name of national security. He continued our hostility towards the international community and heightened our unilateralism, in line with Bush doctrine. He continued Bush's bailouts of corporations, tax breaks for the rich, (even expanded on those) attacks on workers and unions, diminishing focus, or even, has attacked education, expanded irresponsibility with gun laws, expanded government subsidy of evangelicals, implemented health care laws of republicans, (YES, Obamacare's individual mandate was originally a REPUBLICAN proposal!!! In the 90s even Gingrich supported it!!!) and time and time again adopted Bush's ideas for immigration reform! (I dare you to look up Bush's policy! HE was the one, replicating REAGAN, proposing a 'path to citizenship' to immigrants who wanted 'amnesty' even though they were illegal) (Reagan's amnesty to immigrants resulted in the quadrupling of illegal crossings of the border! FACT!)

    April 16, 2012 01:52 am at 1:52 am |
  22. Tammy lambert chandler az

    Its seems funny how the Republicans make these wild claims, they are always trying to reach out to the mindless people who are gullible, do not know the facts and just take what they says bibles truth. Fact checking Mittens during debates is going to be a hoot. We cant let up on demands for Mittens sketchy, secretive tax info. and over sea investments.
    Prying minds want to know...

    April 16, 2012 01:58 am at 1:58 am |
  23. Thomas

    @GC
    Anyone who believe a single word out of this administration makes me wonder about their mental capacity. I'll ask the question that has been asked before, "How's that Hope and Change working for you"?

    GC , when you find those WMDs let us know, till then Hope and Change is preferred !

    April 16, 2012 02:53 am at 2:53 am |
  24. Cortanis

    News flash! CNN airs obvious story again that most people knew about even with out the numbers and such in the first place!

    April 16, 2012 03:22 am at 3:22 am |
  25. John in Cal

    I have learned down through the long years, that lies are believed by those who want to believe them for some reason or other. Truth and facts have no sway with that kind of thought. Only at the very last will they say either they had it kinda wrong, or it was the others that did it wrong. So trying to correct someone who will not be moved from their mistaken beliefs is a total waste of time. I am amazed at the total lack of honesty coming from the right-but not surprised. Always lie when you are in the wrong is a good tactic. Your sure to get some folks to believe you. If you have no sound program or policy, again lie like a car salesman(sorry). Point out the other persons faults real or imagined and BS your way out of everything. This is the current climate of this race. And I'm not even including every stunt that the canidate (R) is doing. This is a sad state for our beloved country when lies by one person and party are given the mantle of the truth. I hope people wake up and demand better from their party and their canidate. This is not how we as Americans should expect those who wish to lead us act. We need reforms and restrictions all across the board is we want any type of country to come home to every day after work. without them we will just slide into history as another faild idea.

    April 16, 2012 03:30 am at 3:30 am |
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