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John Boehner Statement On Practically Agreeing To A Debt Ceiling Hike
Statement by Speaker Boehner on Debt Limit Discussions
House Speaker John Boehner (R-OH) released the following statement today regarding ongoing debt limit discussions with the White House:
"Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase."
Zero Hedge translation: in two weeks we get news of no tax hikes, and no deficit reduction, which will be spun by the great diversionary media machine as the great compromise, and, of course, leading to a $2.5 trillion debt ceiling hike. Win, win for everyone. Except America's people of course, but who gives a rat's ass about them: certainly not their "elected" muppets, all of which are for sale to the highest Wall Street bidder.
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If you worked for me, I'd fire you.
I'd have already bitch slapped you so hard with your desk phone and told you I quit while stepping on your chest on my way out the door...
That you could not have typed "I'd fire you." three more times...
Do I know you? I don't recall addressing you unless of course you use multiple IDs and you f**ked up in using the wrong one to reply.
If so, I'd fire you....AGAIN!
If you worked for me, I'd fire you.
If you worked for me, I'd fire you.
If you worked for me, I'd fire you.
I guess I gotta figure out how to use this friggin iPad!
I would actually only fire you once, not four times.
Steve Jobs got 4x what the puppy is worth out of your wallet--You ought to get some mileage out of that ;-)
- Ned
You're wrong. Or, you have no sense of humor; i.e.:
The day Barack Obama assumed occupancy in the White House, a man walks up to one of the gates and says, "I'd like to see President Bush, please."
The guard replies, "I'm sorry, but George Bush is no longer president."
The man walks away, but the next day reappears and makes the same request, and the guard says the same thing.
Again, the man walks away, and, again, reappears the next day, and makes exactly the same request. This time, the guard says, "Listen, I told you yesterday and the day before that George Bush is no longer president. What is wrong with you?"
The man says, "Nothing. No, I understand that. I just like hearing you say it."
Well that is a nice healthy budget for war. We need more.
Remember, take care of the Military and all is well. If not? we are consumed.
I suggest quit taking today's newspapers, broadcast media and buzzwords so seriously.
What comes out of Washington DC is full of it until proven otherwise.
Agreed. Hence we see the nature of the Enemy's Achillies' Heel. If we take any steps to resist or to hasten its demise, then we get squashed. But if we merely watch and cheer as the beast cuts its own throat we paradoxically accomplish much more.
They must understand this so don't be surprised when they deem voting itself as an act of domestic terrorism. After all, if voteing merely serves to rubber stamp the status-quo and if the status-quo is on a path of self-destruction, then the act of voting itself can be construed as an attempt to destroy the system.
http://grandfubar.com
http://67.208.112.48/protest/
Tyler,
Trying to wrap my head around this circus. I can't find it so I'll ask.
Do we have a number on average monthly government revenue? I've seen anywhere from 200-300 billion.
Thanks.
I thought it was closer to $150 billion per month. We are running a $1.5 trillion deficit on a $3.4 trillion budget. No?
Well, the government has decided it doesn't need to pass a budget (going on two years now) so without that, it gets muddy.
Its my understanding maturing debt & interest is around 20-30 billion per month, point being, I'm trying to get to the bottom of the default scare tactic on all sides.
I believe its purely what they desire to spend vs. whats available to spend.
nmewn,
ya, but really it is "... Pelosi and Reid and Our Dear President" who have decided.
'cuz cash flow and maturing debt reissue in steady state can service the debt and "avoid default".
I'm with WVI above: scary view is the projection-->gets worse each year.
So yes, Timmah be doing his exit strategy to deliver his last policy lie before he goes to what? End of his useful life has come. I wonder what they held over his {part(s)}?
And I believe that you are correct, Sir!
- Ned
Don't let the door hit you on the ass on your way out Timmah.
Useless POS.
"ya, but really it is "... Pelosi and Reid and Our Dear President" who have decided."
Ja, isn't that special.
'cuz cash flow and maturing debt reissue in steady state can service the debt and "avoid default"."
I don't want to live in Japan. I won't be Japanese.
Which raises a trivial, little, teenie, tiny, kinda somewhat immaterial until I stop and think about it point.
Without a budget, how is anybody to really fucking have any clue as to what is or is not a deficit, given that there are (without a budget) any standards of comparison.
And no, none of that good old cash on cash shit is gonna work, for there are way too many "off budget" which should be "on budget", "black budget", "non budget", "where the fuck did that come from" and "where the fuck did it go" items floating about.
Think about it for a second. Without a baseline, the cash on cash measure becomes irrelevant.
Without a budget, I can sorta spend as I damned well please and shift funds from hither to yon and back again.....
Oh my.....
And the Federalie Private Bank has all sorts of indistinguishable nobody has a fucking clue what the hell it is on the books, loans out (?) Fort Knox, and .... oh my....
So, seems that the whole exercise (surprise, surprise) is a ruse. Another diversion, men, keep 'em focused upon the completely immaterial and insignificant whilst what.....
.....the looting continues.
The kicing of the can is not the kicking of the can... it's the diversion....
Oh my....
I just got a badder feeling than I've had for a very long while. And as most of you know, I'm a died in the wool optimist....
(snigger)
Oh my....
"Without a budget, how is anybody to really fucking have any clue as to what is or is not a deficit, given that there are (without a budget) any standards of comparison."
Exactly.
By all appearances what they're doing now is putting it all on the "credit card".
*
Federal revenues for 2011 are projected to be 2.18 trillion. So roughly 180 billion per month in rev
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/t...
Thanks, at least we have a starting point on a projection from the WH.
We'll call it 180 billion monthly revenue.
If what I read is correct, that interest & maturities are in the 20-30 billion range, a default is off the table.
Its about spending.
The budget inevitably built on BS assumtions, even beyond BLS tripe, and assumes that the next year is always better than the pior one.
FY 2011 YTD
http://www.fms.treas.gov/mts/index.html
http://www.treasurydirect.gov/govt/reports/pd/mspd/mspd.htm
Thanks Urban, I was looking for your second link at Treasury Direct last night and kept breezing past it.
Looks like 180 billion monthly holds as revenue (on average).
It appears they are rolling debt outward through time because there is not the revenue coming in to be retiring what they show on the books as being retired. 609 billion in May?!, yeah right.
Surprise surprise, its a ponzi.
Personally, I do not think there will be a debt ceiling increase without spending cuts exceeding the amount of the increase.
The GOP got snookered in the 2011 Continuing Resolution we're operating under now. They thought they got $100 Billion in cuts and analysis showed it to be $2 Billion. They won't tolerate it again.
So no, the ZH interpretation is wrong. There will be no declaration of no tax cuts and no deficit reduction = compromise. That's not going to pass. There will have to be spending cuts that Are Not Budget Neutral for there to be a ceiling increase.
Is this the same GOP that calls Boehner their "leader"?
The GOP got snookered in.....
Are you fricking kidding me. The GOP did not get snookered as much as THEY SNOOKERED. Unless the GOP was utterly incapable of operating their abacus.
Repeat after me:"BOTH PARTIES SNOOKER".
Not hard to snooker a bunch of over righteous, overly religious, anti science/anti math evil mother fuckers.
Go give Maxine Waters a reach around if that will make you happy. Your bias renders your comments pointless. Nobody here is defending Republicans. You are the only one acting as if Democrats are noble and wise. What a fucking joke that is.
So zeusperson (b/c you aren't evidently a man), let's discuss:
Overly religious?: demonstrate.
Anti-Science: demonstrate.
Anti-Math?: demonstrate.
Evil mf?: Please don't demonstrate, but y'know? u b out of gas.
Let's play. If you have the balls. (but wait, we don't know if you are a man, a thing, a Cas thingie (not that there's anything wrong with that, why, I had dinner tonight with one of my best ...)
But I doube that u can play.
- Ned
{Someone who chooses his/her handle with the title of Zeus must be really conflicted. Power syndrome? Maybe we need CD to do some psychoanalysys on ya. It would be a) free but b) effective.}
zeusman = sock puppet.
Why not tax increases for the top 2%, they wouldn't miss a beat. They have already been given most of the stimulus.
because the top 2% are not loyal to any nation, because in the global economy, the wealthy can easily just jump ship whenever they want.. the top 2% don't pay taxes, and will do everything in their power to ensure they never will.
A bunch of grand standing pussy's! Give me a break. Why didn't they just settle this thing a couple months ago if they weren't really gonna do anything.
By Peter S. Green - Jul 9, 2011
Caterpillar Inc. used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes from 2000 to 2009, boosting its earnings through a “tax and financial statement fraud,” according to a Caterpillar executive’s lawsuit.
Peoria-based Caterpillar, which reported year over year earnings growth exceeding 250 percent in each of the last two quarters, is among several U.S. multinationals asking Congress to end U.S. corporate income taxes on profits earned abroad…
http://www.bloomberg.com/news/2011-07-08/caterpillar-accused-of-demoting...
A fine of $20,000 and a stern warning should teach them.
20,000 dollars will vanish in the mountains of Steel Coil and Billets consumed by Cat as they crank out equiptment.
Don't fuck with CAT. They are America.
It was telegraphed around the world that Boehner would kiss OB's balls, American's seem to be the only ones that are shocked over it. The US debt crisis is not that hard to resolve: put the boomers out to bake and only spend on defence(no attack). America has a habit of getting its dick out to quickly these days - it launched like 100+ cruise missiles at Libya before the allies had launched 6...there's no need for that shit. Pull out of Afghanistan and let those headbangers stiff each other, they never made any major attacks on Russian soil, its safe to say the taliban are no threat to the US. GTFO! You could also let all the blacks out of prison? just a thought.
Can anybody remember that we used to call it The War Department? It is odd that we now call it The Defense Department when we probably spend a smaller percentage of our military budget on defense than any other nation? It's a good thing we were able to encourage "terrorism", regardless of who was behind it, to justify militarization within our borders.
the best defense, is a good offense
Try here - Ned
http://www.abebooks.com/servlet/SearchResults?kn=griffith&sts=t&tn=%22Ar...
It's not odd at all. In fact it is Newspeak as writen about in George Orwell's 1984 as well as very effective propaganda as taught by Edward Bernays.
http://en.wikipedia.org/wiki/Newspeak
http://en.wikipedia.org/wiki/Edward_Bernays
and +1 to above, but the War Department was just the Army. So, if we play with doggies, squids,zoomies, and jarheads, we need something that joins all of the above. 1947 Defense act kinda' solidified above. And, NO, CD not newspeak as far as actual management and command actions were executed. Goldwater act of 1986 got us to today's structure.
But +1 about Bernays and his influence: esp. about women smoking encouragement and the damage that was wrought with that effort.
- Ned
Actually it is Joint Ops now. I cannot recall the exact names of the two Lawmakers that made it happen some years ago. All services have to hug, and learn to get along to play nice.
However you will always need a Marine to be first to fight.
Goldwater-Nichols in 1986 makes everyone Purple.
Bond Market meltdown in 3....2.....1......
Glad to see this problem is solved. Back to the party then.
That's right! Gonna party like it's 1999!
http://english.kyodonews.jp/news/2011/07/102038.html
7.1 just hit japan
It looks like it took out Betty Ford.
I read these headlines and the comments of those who seem to be in the know and find myself getting frustrated, then sad, then really fucking angry, then depressed, and then really fucking angry again. Is this normal?
Very normal ;-)
I think you (viz., A Lunatic) left out "scared" somewhere in there.
Depends on your definition of normal. If normal implies the current mean of the population then you're definitely not normal. Must people are on psychoactive drugs (prescription, otc, or street) and are constantly locked into whatever mood pleasures them most...
Now if normal implies historical mean of the population then that's quite different.
I'm currently despondent, so I'll have to get back to you on that when I have my next manic episode.
Hang in there.
"Cognitive Dissonance", and also, read that posters articles here, one recently about your feelings.
Most of us have almost zero control over anything but ourselves.
Welcome to the fight club.
"That depends on what your definition of 'is', is"...Bill Clinton
I wondered why gold was acting so well.
its first and goal from the 3 yard line.............and here comes the punt team
punt team...lol...right again....who would have guesed it...dang..they are gonna punt. ( not sarc...agree completely)
When's everyone gonna say no to paying taxes and starve these ball-less sacks? Get off the dollar ponzi system.
Le cheese eating cowardly surrender crying game monkey strikes again.
There will be no debt ceiling increase. Boehner knows exactly what he is doing. Even though he gets emotional at times. Maybe if he had a LLM like Bachmann, or was an Acorn like Obama he could Pavlov this thing out.
But for the Hegelians. If the main stage is Bachmann+Perry v. Obama and the OP's sideshow is Boehner v. Joe "this is a big fucking deal" Biden I'll place an gold eagle bet on martial law in 2016.
Goodbye John and goodbye Republican party. No balls,... more of the same bullshit. Bring on Bauchman she may be the only one with any balls. You have lied to me for the last time.
I am sorry... I can't take any one who slaps on the Orange Man Tan like cheap aftershave seriously...
Boehner is only asking for $1.00 of cuts over ten years, ten cents per year, for every $1.00 of debt limit increase. Ten years of "cuts" are subject to a myriad of assumptions and wiggle room, and are also subject to future ("out year") changes, making them meaningless and unenforceable. For that, Boehner is willing to give Obama an equal CURRENT debt limit increase. This doesn't sound like a good deal to me, but Boehner, and perhaps Biden, is proposing it and Obama is rejecting it. With a going-in position like this, Boehner "caved" some time ago.
send the economy
to the betty ford center....
debt detox ...
source: passing of the idle rich by quasi-traitor to his class Frederick Townsend Martin http://books.google.com/books?id=wzp7zpvV9DkC&pg=PA89#v=onepage&q&f=false
Lots of talk increasing taxes but no talk about cutting war.
War is coming. All the things are a Overture.
The Iranian General said something important today.
Not even any talk about eliminating fraud and waste, strangely enough.
down goes usa
here we have our elected leadership, prez0, joeVP, & boehner all talking bullshit, at once. LOL! i'm telling you, they have this down to a science, don't they?
7.9.11, a day like all days, as, striding purposefully and forcefully forward, er,...make that stumbling pitifully and farcically in circles,...our leadership integrates the finest of our nation's values with complete economic nonsense as they steer the nation confidently into the future of: The Big Whatever
relax. it's all downhill from here, i would say...
What a surprise, there is no surprise.
It doesn't really matter if they are republican or democrat. All they want is to get a job (reelected). I don't see how they can represent people.
We're in the middle of a North - South road trip along the west coast of the USA. What a beautiful country! Both sides in D.C. are a bunch a F'n A'holes, F'n up a good thing! Do they really have the right to finish off this land of the free and the home of the brave?
So many of our U.S. politicians remind me of Jellyfish; brightly colored, gracefully flowing form, yet spinelss and afloat. The sting is the money and freedoms they steal from the people.
excellent analogy.
Boehner thinks He's { SINATRA } without the voice... Wake up blue EYES, or your constituents will put you in the [ WAFFLE IRON]
How is this any different from what is going on over in Europe. Each of of the PIIGS issue statements how they are going to get their acts together, then the ECB and the IMF issue a blessing. Just substitute in Congress for the PIIGS and the FED and Treasury for the ECB and IMF. The name of the game is to make sure the banks can continue to collect their spreads on the debts they have issued for the masses to live beyond their means.
Politicians are highly paid actors.
All of them.
Politicians are corporate robots.
All of them.
They will tell you verbatim what got programmed into them by their corporate overlord programmers.
They all run on the same operating system.
you cannot make policy that improves lives and wealth of your citizens if at the same time you are exporting wealth to a global elite at an expanding rate.. Dexia bank got more money from the FED than the defense budget just passed,, where's the MSM on that??
Boner does not get it, pushing the US to default to protect the top 2% from a minimal tax hike?? We are doomed.
Tax entitlements must be protected at all costs. Those who earn the most and create the least must not contribute to solving the mess that they created. The elites are all that matter. Only they have the ear of the prez and congress. Nothing else matters only tax entitlements.
The great backbone of the country and the economy, the middle class, is nothing but a lowly consumer. The middle class created the demand that improved the economic wellbeing of this great country. The middle class is being destroyed by the elite's theft of their wages and taxes. Major American Corps, routinely book US sales in their oversea affiliates and employ other scams to reduce their effective tax rates to the low single digits and grossly overcharge the government on their contracts thus taking form the taxpayer twice. Talk about double dipping! Next they off shore jobs and receive a lower taxes. If all of this is not enough, they demand a tax holiday to repatriate their earnings. What, did I say double dipping... how about triple dipping.
Wonder why the economy is in the drink? No demand. And breaking the back of the middle class will result in no recovery. Restore the middle class with American jobs, fair taxes on Corps and the elites, prevention of commodity speculation that only drives the cost of consumption or lose the country. It is time to end the redistribution of income from the pockets of the middle class to the elites. My pocket is almost empty.
I knew that idiot would cave...what a steaming pile of jackass dung!
"We have to raise the debt ceiling peasants. Sniffs, I did everything I could. They told me about what happened to DSK and wouldn't be as fortunate if I decided to rock the derivatives boat."
Snivels for the camera.. CLICK, CLICK, CLICK, CLICK.
The Crying Game
:cue rally monkey:
http://www.youtube.com/watch?v=G1fgNeCxTcw&feature=related
The Bush tax cuts have been in place for 10 years. ALL Congressional and state Republicans should be out looking for jobs. Show us exactly where the Bush tax cuts have created jobs in the US. Take the ACORN pimp and prostitute and Faux News. Show us exactly where the jobs are.
If you can't, you need to be called liars, to your face, voted out of office and kept out of office. If I need unemployed benefits, I want them the same length of time the Bush tax cuts have been in place. Common sense.
If you're unemployed, you should be conducting your job search from a Republican's office. Commandeer the office. Take a videocam. Invite the staff to call Faux News. They won't want to. For all the BS about "it's both parties," no, it's the Republican party's tax cut ideology. Now is the time to gut the Republican party and make it and its tax cut ideology obsolete. And taxes should skyrocket.
I will never vote for Obama but the Republicans are messing up. They should go for the 4 trillion and accept closing of loopholes and 28% limit on deductions as long as bush tax cuts stay in place. They can claim it is the start of their flat tax strategy. Not agreeing to some small tax increases tied to major deficit reduction is political suicide. They just lost 2012. Idiots
I have found myself having to ask how these jackasses ever got elected in the first place. I understand the bait and switch approach, however I do not believe that any of them except for a handful are smart enough to carry that operation out. It is time to take what little money you and I have left and buy lots of rope and let them that vote for this fiscal trainwreck hang high outside the capitol. It is time for "We the People" to take our government back.
ATTENTION THIS JUST IN: Jackasses around the world are complaining about being compared to polititions!
http://www.brasschecktv.com/videos/energy/southern-california-nuke-disas...
little known nuclear disaster, that happened not far from LA in 1959. I wonder how many people died from this, and they didn't even know this was the reason they got sick and died.
http://www.youtube.com/watch?v=jAHmaEs5cYU
How many secret plants dumped Poison all over Americans?
Just had another read of the obscenity that was FDR's executive order to nationalise gold in 1933. You need your laws to always be upheld at all times and particularly in a crisis and not be subjected to abuse.
The federal reserve had done a great job since its forming in 1913 what with the unsustainable boom of the 1920s followed by the inevitable correction that began in 1929.
But what does Ben Bernanke claim to look at to help guide him in the current crisis ? The post-1929 period which is the cure the market is attempting rather than the unsustainable boom of the 1920s which was the cause.
Of course he hopes that people will not realise that he is deliberately looking in the wrong place.
I am sure that a lot of ZH readers know that the federal reserve had induced the crisis of 1929 just as it induced the crisis of 2008.
The Repugnicans haves figured it out now. They have to crash the system now so that by election time things will have gotten so bad that the ignorant masses will have blamed it all on all Obama, when it is both parties that share the blame. First the fractional banking system, then the creation of the Fed, allowing politicians to get their hands on money to buy votes through their largesse, and to quid pro quo skew the forces of capitalism. Fan, meet shit.
When this whole came comes down and our economy implodes, you will see people going nuts. They won't comprehend that whatever money they have in the banks is gone and the FDIC will say they back it up to a point, the problem is that they won't know when the FDIC will pay out. Also when they try to get money from their 401k's they will find out that the govt. won't let them pull the money out and/or the 401k doesn't have the money.
...not T3 John Connor, John Boenher QE3.
...same outcome though.
http://www.youtube.com/watch?v=6B3mAw31Xks&feature=channel_video_title
I suggest readers check the Washington Post article before they break Beohners back...
I was ticked off yesterday as well. If you want 2T in tax hikes, a nutless Pentagon,
and current entitlements then Otools 4t program is a wash -500B