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America's New Budgetless Reality Is "Betrayal Of American Taxpayers", Says Republican House Leader John Boehner
House Democrat leader Steny Hoyer will today announce that the US will not pass a budget in 2010 as “It isn’t possible to debate and pass a realistic, long-term budget until we’ve considered the bipartisan commission’s deficit-reduction plan, which is expected in December." Yet "the House has never failed to pass an annual budget resolution since the current budget rules were put into place in 1974." The real reason of course is that the budget would indicate new and unprecedented trillions in deficits, which would wreak havoc on Democrat chances to contain their upcoming mid-term election loss to just "landslide" status, instead of what is increasingly shaping up as being more in the "apocalyptic" category. Those whose memory spans longer than 24 hours, will recall that Peter Orszag resigned yesterday. Something tells us these two events may be correlated. In the meantime, we are now convinced that realizing the hopelessness of its political situation, the administration and the Fed will now create the most ridiculous, unprecedented, destructive and historic market melt up in history to preserve any chances of demonstrating just how "effective" their market manipulation, pardon, economic resurgence efforts are. If you are short, be ready to have all your shares forcibly called in over the next 4 months. At least the humor of the situation is not lost on one person: House Republican leader John Boehner has taken out a page on his website to lampoon the tragicomedy that US economic and fiscal reality has become.
From John Boehner's Website
Cancelled: There Will Be No Congressional Budget This Year
***The Following Is An Important Fiscal Health Announcement***
Washington
(Jun 22)
In light of House Majority Leader Steny Hoyer’s (D-MD) announcement this morning that House Democrats will not pass a budget this year – failing to fulfill what he has called “the most basic responsibility” of governing – the following important fiscal health warning has been issued:
THE BUDGET HAS BEEN
CANCELLED
WE REGRET TO INFORM YOU THAT
THE CONGRESSIONAL BUDGET
PLANNED FOR FISCAL YEAR 2011 HAS BEEN CANCELLED DUE TO WASHINGTON DEMOCRATS’ OUT-OF-CONTROL SPENDING SPREE.
AN APOLOGY FOR THIS BETRAYAL OF AMERICAN TAXPAYERS DOES NOT APPEAR TO BE FORTHCOMING AT THIS TIME.
BE ADVISED THAT THE FOLLOWING SERVICES WILL BE INTERRUPTED:
Imposing the fiscal discipline economists say is needed to create jobs and boost our economy
Reining in the out-of-control spending spree that is killing American jobs
Carrying out the “most basic responsibility of governing”
Stopping middle-class tax hikes that will sock family budgets at the worst possible time
Providing the leadership on jobs and the economy that Americans say is sorely lacking
Protecting our kids and grandkids from the enormous debt burden Washington has placed on them
We reserve the right to notify you of additional consequences that may arise in light of this budget failure, which is unprecedented in the modern era. In the interim, please brace for more spending, more debt, more tax hikes, more broken promises.
For families and small businesses looking for a government that listens
to the people it serves and respects their hard-earned money, House
Republicans are offering better solutions to cut spending now and help small businesses put people back to work.
And here are the comment from Ranking Member, and vocal budgetary farce opponent, Paul Ryan:
Ranking Member Ryan on Democrats’ Unprecedented Budget Failure
WASHINGTON – Since the implementation of the 1974 Budget Act, the House has never failed to pass a budget resolution – until now. House Democratic leaders announced this morning that they will make no attempt to even propose a budget. In response to this unprecedented budget failure and efforts to give the appearance of budgeting while sidestepping the tough decisions that budgets require, House Budget Committee Ranking Republican Paul Ryan (WI) issued the following statement:
“House Democrats have offered no budget, no priorities, and no restraints – yet the taxing, spending, and borrowing all continue unchecked. The unprecedented collapse of the budget process and lack of spending restraint undermines economic growth and job creation, fuels our dependence on foreign creditors, and accelerates our fiscal day of reckoning here at home. A clear signal is being sent to American families struggling to meet their own budgets – and to those financing this borrowing binge – that Washington still doesn’t recognize the severity of our fiscal and economic challenges. Washington needs to wake up.”
Additional key points to consider:
A “deeming resolution” is not a budget. A "deemer” does not set priorities; it does not align overall spending, tax, deficit, and debt levels; and it does nothing to address the runaway spending of Federal entitlement programs. Instead of enforceable restraints and tough decisions, the Majority intends to give a green light to the Appropriators for the spending spree to continue.
This year’s budget collapse is an unprecedented failure. Even when previous Congresses have failed to pass budget conference reports, the House always completed and passed its own budget resolution. Not only will House Democrats fail to pass a budget resolution, they will make no attempt to even propose a budget.
The latest in a string of alarming fiscal abuses. Since January 2009, the President has signed into law $1.8 trillion in new spending and $670 billion in new taxes. The Federal budget deficit has expanded to $1.5 trillion and total debt recently eclipsed $13 trillion. The Majority’s pay-as-you-go charade has been circumvented at least 14 times in the 111th Congress, adding hundreds of billions of dollars to the deficit. The abuse of the budget reconciliation process made possible the passage of the Majority’s health care overhaul.
A failure to budget exacerbates looming fiscal crisis. The Democrats’ failure to budget and get spending under control would be a disaster at any time – a staggering abdication of a fundamental act of governing. It is acutely problematic now, with the Nation facing dire fiscal and economic challenges.
h/t Stephen
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Watch the pea, not the shell... We are gonna get screwed again. The budget bullshit is just a diversion... may be it takes finance reform back to Page 16 or maybe even the Stone Age.
Why isn't gold at $5000?
The Ben Bernanke unlimited short selling slush fund son.
Patience, young jedi.
When petty politics become more important than the LAW and the PEOPLE, it's time to IMPEACH
I'm fairly new to ZH and want to say that I appreciate those that post here. We need a place to get a real Aqua-Velva moment!
As long as GOVCORP keeps the peeps in bread and circuses it'll be a while before the reset button gets pushed. Perhaps 5 to 7 years.
But, I could be wrong.
Have you ever noticed that when an engine runs out of fuel there's a moment when it begins running really well and there's a noticeable increase in rpms? If the worlds economic system follows the same physical rules look for an unprecedented flurry of activity before it all runs out of gas.
As far as budgets go, what does it matter when you own the magic money making machine?
That's akin to hypothermia when you get a warm sensation just before the system shuts down...go to the light, the warm light!!!
Can't wait to sit back and listen to Michael Savage take this apart! Stunning entertainment from a Grand Master.
From the day after the election til the day before the new class is sworn in--expect the unexpected. Obama, Pelosi and Reid will feel they have nothing to lose.
Jesus, this shit is getting bad. The good politicians have lost control of the congress to the idiot monkeys.
No budget due to political fear & utter incompetence. Easily one of the biggest news events of the year (which is saying something), and obviously it falls into the "will not be covered by MSM" category.
This is beyond outrageous. This is grounds for impreachment and recall at the federal executive and legislative levels
We can start planning that 10 million citizen march on Washington D.C. now...
"This is beyond outrageous. This is grounds for impreachment and recall at the federal executive and legislative levels"
Bingo! But rather than Give Martial Law a Chance, I suggest 10 million skip all credit card pmts and skip (or at least make it really late) your house payment. That brings TPTB to their knees pretty quick. Don't forget to yank your accounts from your Fed-member bank and put them into your local credit union. Oh, and go ahead and declare bankruptcy and bring the court system to its knees as well. Wheeeeee!!!!
Exactly! The predators-that-be are just ITCHING to send their paid thugs to kill and lock-up everyone with the faintest hint of liberty in their brains.
However, if we can get a large minority of folks to simply STOP PLAYING THE GAMES the predators-that-be have established to destroy us, their system will crash and burn very quickly.
The most important single action is: convert ALL of your savings to physical gold, hide it where no government thugs can ever find, only keep the minimum balance in your checking account, and cash all paychecks FOR CASH.
Remember that EVERY agreement denominated in fiat currency is invalid, because the currency is invalid - utterly invalid. Stop buying anything optional, and convert all your cash into basic goods you need to survive (food, water, seeds, water-purification systems, tools, self-defense aids, etc).
DUMP all stocks... NOW. Yeah, I like the idea of owning some gold miners and commodity producers, but we should exit EVERY form of paper - all of which are easily stolen and manipulated by the predators-that-be.
I have never voted because I have never in my adult life considered the "system" or its actions to be legitimate, and have always refused to pretend otherwise. But if you are able to hold your nose and vote in November, only vote for the most extreme liberty-oriented candidates, otherwise write in ThomasJefferson or RonPaul for every position (to make your point clearly).
2010 is the year to KICK BUTT. And as SWD says, the smartest way to start fighting is with utterly non-violent NON-actions and actions. While you're doing that, though, buy all the weapons and ammunition you can afford, become proficient with them, and hide them very, very well. And if the time ever arrives when the second shooting revolutionary war arrives, be sure to remember the #1 rule! That is, avoid the many paid thugs the predators-that-be will hire, and focus 100% on cutting off the heads of the Medusa.
Seems the math around these deficits is getting so outrageous that even liberal arts graduates like myself can add it up!
Folks above saying the budget can't be shown to the public in an election year (or any other year) are correct.
When I try to explain to people the US budget issues, based on the CBO's #'s, they generally get frustrated and believe we (I) must be missing something because it doesn't make sense. I try to explain to them...that is the point. Most simply cannot believe that it's true.
BUDGET? HAHAHAHAHAHAHA
How do you put in writing that you are going to spend twice what you make?
We are in rob Peter to pay Paul times.
Default is next.
Fuck Peter, Fuck Paul <anger off>. They are robbing the few working folks left...the entire entitled world (bailed out alike) jumping on the backs of the shrinking working to service $100trillion w/ a $2trillion dollar income (taxes). Funny thing is, the debt has been paid on the backs of the Chinese through T's and only soon will the tax burden be squarely on the US working to pay for all debts.
In human terms, this is like taking on a $1,000,000 loan with a $20,000 income. No wonder we don't pay principle (ever...since '60) and have to borrow to cover half our monthly nut. Everyone but our gov would understand how fugly this is.
No, it's robbing distant-future Pauls and Peters time!
For those who want to know more about this like I did, some notes on how this budget process is supposed to go...
http://www.rules.house.gov/archives/bud_procres.htm
Look at the schedule....This is soooo fucked...
I know, right?
Complete and utter lawlessness on all levels.
I want to believe you. I really do.
If you can't come up with a budget then I can't come up with any tax dollars.
So the US Gubmint is acting like a spoiled wife that maxes out her credit cards on a shopping spree - like, who cares. Hell, she's not maxing them out she's in overdraft hell by now. But that's okay, she has to keep up her looks (the economy) or at least a pretense thereof. And the hubby (poor american taxpayers and their kids down to the 7th generation) will just have to foot the bill somehow, because that's what he's there for - to provide for the appetites of the wife. Right? Right? Oh, the shinies, me want that...
Disclosure: am married, love my wife, think women are overall better people than men apart from a small group of dumb selfserving bitches, which apparently have been the role model for the US Gov for some time now.
Let's put this in perspective:
http://libertyatstake.blogspot.com/2010/06/breaking-news-congress-takes-...
Abandon all hope. November will bring us nothing but a change of clothes. The rot goes clear to the bone and even the best intentioned 'public servant' will be loathe to amputate. The lines of people at the neighborhood foodshelf will drive the narrative and no self-serving pol worth his or her salt (insert argument about extracting their salt to get some minimal use at the soup kitchen, here) is going to do anything substantive about this. Enjoy the ride as best you can and do what you must to prepare for the coming credit crash and dollar run up followed by crash. An awful lot of you are intelligent and sensible enough to be useful in the neighborhood political governance structures that will need to form and deal with the reality of a failed national govt. that has extended itself into every nook and cranny of our lives. Nature abohors a vacuum, so prepare to fill it with conscientious, consitutional conservatives and hopefully we can avoid Robbespierre and his neighborhood collective committees.
This is an extrememly irresponsible decision. We are in for an interesting ride if he leaders of country are throwing there hands up in defeat.
http://wallstreettobaystreet.blogspot.com/