Why not? it might harder to implement than coffeescript, but ooc is proof that it's possible. Remove GC and dependent libs, and you still have a substancially higher level language than C (or C++).

As for ooc and garbage collection: How would you write a compiler for a high level garbage collected language without including a garbage collector?

I didn't say it should be garbage collected: Obviously it would have to come with some lower level semantics, like memory management. The coffeescript approach is it shouldn't have dependencies. By high level, I meant higher level than c++. it will always be lower level than a language like python, without dependencies we can't escape all the semantics underlying in the target language. That said like I mentioned before, memory management could possibly be handled by something similar to Apple's ARC (and to answer your last question, I don't think it's that black and white, look at how Apple is investing on ARC instead of GC; also GC's unpredictability make it a no-go for low level routines in videogames).