Cantor Announces House To Vote On "Cut, Cap And Balance Act" Tomorrow

Tyler Durden's picture

Just issued by Eric Cantor.

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding the White House’s veto threat against the Cut, Cap and Balance Act:

Tomorrow, the House will vote on Cut, Cap and Balance, a common sense proposal that will cut and cap federal spending to ensure that Washington begins to live within its means and put in place a Constitutional balanced budget amendment that will make balancing our budget the rule, not the exception. No one wants to default on our debt, and that is why House Republicans are bringing forth this plan to meet the President’s request for a debt limit increase with the necessary safeguards to make sure that we don’t continue to kick the can down the road. With millions of Americans out of work, we need to get the economy growing again and control spending here in Washington, and Cut, Cap and Balance is a path forward to do just that. As President Obama has not put forth a plan that can garner 218 votes in the House, I’d caution him against so hastily dismissing Cut, Cap and Balance.”

As was announced previously this legislation will be promptly vetoed by the president, which will put America back at square zero with just 48 hours left until July 22 as of midnight tomorrow. And since this whole thing has been scripted by some B-grade hack, we expect Jack Bauer to appear sometime on Wendesday and fix everything.

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the not so mighty maximiza's picture

Oh man , the president is not gonna like this.

SilverRhino's picture

You mean Mr Dont-Call-My-Bluff Bitch?  

What kind of fucking moron even utters a statement like that?

Clark Bent's picture

In litigation, a jerkwater who is about to lose. Obama still thinks he's persuasive. He should realize he is no longer a mystery. 

Gert_B_Frobe's picture

I see Oblahblah going all "german kid on the computer". Mooshell will just pass him another serving of pork rinds and grape soda comfort food to calm him down.

Zero Govt's picture

Eric Cantor is a posturing narcisistic lawyer (snake oil salesman)

Posture all you like Cantor, we know you've got to bring home the bacon for your vested interests (parasites) and the only way is to rape the taxpayer now or raise the debt ceiling (ie. rape the taxpayers of the future)

you were born yesterday to think we were born yesterday and don't know you're going to raise the debt ceiling because your greedy parasites won't stop their feeding frenzy of the countries productive people is afterall their last dip at the well before your rotten self, your rotten Party and your rotten sponsors run for the hills leaving decades of debt (parsitical feeding) for others to clear up after you human criminal scum

Here's a Newsflash: we're coming after you to pay the bills you ran up... debt slave

Cognitive Dissonance's picture

OK, what's the punch line?

LeBalance's picture

Eric is Judy?

and Teleprompter is Punch?

Sophist Economicus's picture

The American people undergo a televised vivisection?

Cognitive Dissonance's picture

Currently underway.

"Doctor, let's remove the wallet first."

Robot Traders Mom's picture

Nice. Cut $100 billion in spending to increase the debt ceiling by $1 trillion.


Only in America.

cougar_w's picture

Dude, that's like a 10:1 payoff. 

JPM Hater001's picture

10:1 Payoff in America is a deal in my book

Aductor's picture

You got to stay leveraged. The Bernank is covering everyone's back.

Zero Govt's picture

i'd say Bens posture is more the crone that bends over and takes it

(smack) "Thankyou Master, may i have another"

(smack) "Thankyou Master, may i have another"

He better get the KY out and start greasing those printing presses, the DC parasites will be along shortly with their demands to be bailed out of bankruptcy (again)

carbonmutant's picture

The problem here is that Obama thinks he's president...

Long-John-Silver's picture

The House and Senate can propose a constitutional amendment. The President has nothing to do with it and can not veto it. That said it requires a 2/3 majority in both the House and Senate to pass a proposed constitutional amendment and approved by 3/4's of the States. This can take upwards of 7 years to get an amendment passed. Even if this amendment passed all these hurdles the 7 or more years required for this procedure is going to take too long to "save" the country from default and disunion.

Buck Johnson's picture

You're correct, also there is another reason why we very rarely if ever do constitutional amendments.  It's because every tom, dick and sally will want other amendments (ban gays or whatever) to be also done at the same time.  There is to much nickle and diming that will happen if they open up that can of worms.  That July 22 date is almost here, and I truly believe that this isn't theater anymore.  I think that chicken is being played and both sides are waiting to see who will blink.  They seen Obama blink before, they believe he will blink again.  Obama doesn't want to look week on this and so is trying to look strong.  Boehner is waffling because he knows that Cantor has his eye on his job as speaker of the house.  And McConnell is a snake in the grass, he's doing everything on the senate side to try to get Obama to agree to a trick and it hasn't worked yet.

earnulf's picture


TruthInSunshine's picture

Jack Bauer?

Only MacGyver can fix the epic (some would say unprecedented) woes the global economy faces.

Give the man a chewing gum wrapper, paper clip, flint stone and some 12# fishing line, and kick Bernanke's ass to the curb, bitchez.


But look -

At least that's under control, and we all know how incredibly credible Freddie Mac is. /sarc
Cdad's picture

Correct brother Truth,

The only way to fix this thing is to first remove all of the impediments to things actually getting fixed....the Bernanke, crony corporations, long time DC politicians, bankers bankers and more bankers....which means...

...this thing will not be fixed.  So we are looking at a downgrade of our debt or a debt default.  Either one of these because the parties involved will not allow anything to actually be fixed.  And additionally, I believe Obama wants a default, anyway.

So good luck with all the status quo, it is only drama, everything will be fixed by Thursday sort of call.  

**keep selling the long bond...that's the trade**

TruthInSunshine's picture

We should have took our medicine in 2008, like David Stockman, Kotlikoff, Ron Paul and many Austrian-Schoolers did or would have advised.

It would have been better to see Goldman's, JP Morgan's, GE's, BofA's, etc, etc. etc. stocks go to $1 or $0, have a Wall Street Bloodletting in full force (i.e. let the parasitic financial sector of the economy bleed out), in order to shore up Main Street (don't believe those who claim Wall Street saves or can save Main Steet; Main Street is having its ass taxed, raped and brutalized to subsidize the parastic financial elite, hence no true recovery and a further economic degradation on the way).


We should have took our medicine and the pain back in 2008, killed off the parasites, and re-set the table for true, organic economic growth, led by Main Street.

Hank Paulson, Jamie Dimon, Bernankincide and Krugman would have been unhappy, but WTF have they done for Americans or other global citizens except inflict a death by a million paper cuts upon them (they use boxcutters and not paper, though).

Ned Zeppelin's picture

Absolutely 100% correct.  Goldman people junked you. 

TruthInSunshine's picture

You know it, Ned.

Any true business person who actually works honestly, whether with his or her hands or mind, and understands even the basics as to what makes real and sustained economic growth happen, and what makes nations wealthier rather than poorer, understands that Wall Street & Financial Fixers, who now have captured government and regulators, have bled the country too far close to death, and the parasitic shock is too much.

We're past the point of no return, now.

This is why defaulting on debts and massive deleveraging is the only option now, if real economic growth independent of debt expansion and money shuffling/paper pushing is ever to be had again.

SheepDog-One's picture

Housing unlikely to see double dip, because it never came out of the first dip and is still plunging.

Bay of Pigs's picture

More Flim Flam. Hey, look over there!

sabra1's picture

maybe they'll find cantor with his legs, arms, genitals cut off, and claim it was suicide!

bob_dabolina's picture

So any minute now we should be getting the end of the world speech/marshal law/first born children dying/etc

Zero Govt's picture

Yep that scare story is for public consumption.. the GOP and Dems have long since come  to a under the table agreement that both their parasitical interests be left to feed on the carcuss of the United States of America without attempting to cut each others budgets ...hence never a balanced budget, never a budget cut, never any sanity ...just a feeding frenzy

Milestones's picture

 It's Martial Law! I've seen this Marshal Law so many times I finally had to bring it up. No hard feelings.     Milestones 

tbone654's picture

will the last one out... please turn off the lights?

Long-John-Silver's picture

Beans, Bullets, and Bullion Bitchez!

DoChenRollingBearing's picture

Things are speeding up.

GET MOVING on your preparations!

latizziforchizzi's picture

Obama will probably throw another temper fit and walk out because this doesn't fit with his socialist ideaology...

Long-John-Silver's picture

Perhaps he will get so mad he could resign and go back to Kenya. /sarc

sbenard's picture

You didn't hear? His new middle name is Barack INSANE Obama!

Gert_B_Frobe's picture

And the alphabets are scurrying to get the Dem talking points delivered so as to make tonight's evening drivel.

latizziforchizzi's picture

How about cut $2 trillion in spending to increase the debt ceiling to $100 billion...

latizziforchizzi's picture

LOL at the Jack Bauer comment. What a fucking circus act this has turned out to be.

Long-John-Silver's picture

Where's the bread that goes with the circus?

SokPOTUS's picture

I like to munch popcorn when watching a circus.

sbenard's picture

Barack Insane Obama is sure to veto it! Good! Then he can take the fall for the consequences!

Rockfish's picture

Cut the crap and bulls__t - waste of time.

Rockfish's picture

O thats right thats all they have to do.

angmikey's picture

Did I miss the part where they were going to start living within their means? 10 years from now they still aren't living in their means. What a bunch of Sh*t!

Eireann go Brach's picture

Obama can always run a lemonade stand in Kenya when this is all over, although that is doubtful!

billwilson's picture

Cantor is half the problem ... at least.

Aductor's picture

I can stand Boehner. Even the teleprompter at times. But this Steven Colbert impersonator...

billwilson's picture

Cantor is half the problem ... at least.