All you do to me is “Talk, Talk!”

Remember that catchy 80s song “Talk, Talk“? That’s what I think of when I read stories like this. Treasury Secretary Tim Geithner keeps blathering about how he’s concerned about U.S. borrowing and how he will — somehow — figure out a way to bring down the deficit over time. But it’s all just that — talk.

Everything the administration and Congress is actually DOING is driving the deficit up, not down. And the bailouts keep on coming. On top of the additional $7.5 billion GMAC got last night, it looks like we’re going to shovel ANOTHER $30 billion into GM as part of a bankruptcy filing. It never ends.

Anyway, if you happen to enjoy talk, here’s an excerpt from the Bloomberg story referenced above …

“Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery.

“It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner said in an interview with Bloomberg Television yesterday. He added that the target is reducing the gap to about 3 percent of gross domestic product, from a projected 12.9 percent this year.

“The dollar extended declines today after Treasuries and American stocks slumped on concern the U.S. government’s debt rating may at some point be lowered. Bill Gross, the co-chief investment officer of Pacific Investment Management Co., said the U.S. “eventually” will lose its AAA grade.

“Geithner, 47, also said that the rise in yields on Treasury securities this year “is a sign that things are improving” and that “there is a little less acute concern about the depth of the recession.”