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The Petulant Teleprompter: Obama "Abruptly" Walks Out Of Debt Negotiations
Update: OBAMA: "THIS MAY BRING MY PRESIDENCY DOWN BUT I WILL NOT YIELD ON THIS" -- REPUBLICAN AIDE; Perhaps Obama may want to put the country ahead of his own interests this one time...
Here is the relevant section in the 14th Amendment that the Constitutional scholar is likely about to invoke. The bolded section is what is largely being ignored.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Odd how the debt inccured for payment of pensions is being nicely trampled to make way for debt incurred for payment of Federal worker bonuses...
Orignal:
So far the Moody's threat is having precisely zero impact on the debt ceiling farce, with just 8 days left until July 22. But the latest development is certain to jar both S&P and Fitch, not to mention Dagong, out of hibernation. Reuters reports that President Barack Obama abruptly ended a tense budget meeting on Wednesday with Republican leaders by walking out of the room, a Republican aide familiar with the talks said. The aide said the session, the fourth in a row,
was the most tense of the week as House of Representatives Speaker John
Boehner, the top Republican in Congress, dismissed spending cuts offered
by the White House as "gimmicks and accounting tricks." Either Congress has become the best orchestrated reality TV show in history or, and this is a big or, the market should really consider panicking soon.
Some additional color:
- Cantor relayed this quote: "Eric, don't call my bluff," Obama said. "I'm going to take this to the American people."
- More Cantor: Obama said that the group has until Friday to figure out "which way we're going." They'll meet tomorrow.
Odd. Last time we checked far more Americans didn't want a debt ceiling hike than did:
Overall, voters oppose raising the debt ceiling by a strong 45 percent to 32 percent margin, with the remainder undecided.
But the real eye-opener in the poll is the stiff Republican and swing-voter opposition to a deal. Sixty-seven percent of GOP voters and 51 percent of independents think raising the debt ceiling is a bad idea.
Democratic voters, by comparison favored raising the debt ceiling by a 44 to 21 percent margin. Interestingly, 35 percent of Democrats say they are either undecided on the question, or don’t know enough to have an opinion.
Perhaps Obama believes GM union members are a representative segment of the broad US population...
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Hey J Fl. How is that one working out? The gal in Michigan? I have been traveling/ gotta check that out. Thanks for the Veggie Stasi reminder. Yen...
The Mayor says no Jail time for her growing plants / Veggies on her own property??? Have fun traveling and be safe! if nothing else enjoy being felt up by TSA!
I wish Obama keep on walkin..
YES! S&P gonna watch' China banks. It's small step but it's a start!
China bonds flat and crappy
http://www.youtube.com/watch?v=rDVzmbtVZ6s
http://gmbpost.com/politics/first-pictures-of-mumbai-rains-submerged/
pictures of Mumbai submerged a day after serial blasts
and yet markets keep going up.
This is a useless statistic, of course. If the poll asked people to choose between a debt ceiling hike or a government default, a majority would choose the hike.
It would be nice if they raised taxes and cut spending over the next 10 years so that this is the last debt ceiling hike for another generation.
Funny, my take on this is:
Cantor; McConnell; Kyle are all baught and paid for
by the Plutocrats. Citizens United vs FEC has emboldened
the Landed Gentry to use the Corporate Shield
to ensure that they alone are "more equal" than the
bulk of the citizenry.
Raising taxes on the wealthy and ensuring that
The Majority of Americans benefit - in the long and near term -
good governence.
Governing... What the GOP has forgot holding power
about. Representing their constiuent interests - not those
of Goldman Sachs.
re "governance" what you forget to take into account is 9-11 and POLICE STATE /gwot powers...
both the radical Right-Wing "round up the cotton-pickers, and put 'em back on the plantation" Republicans, AND the Neo-Con pro-israel, GS/jpm/Fed (=R's) wing of the late "Democratic" Party, DON'T GIVE A HOOT for "governance" any more - just for collecting their next big fat corporate bribe, er, "campaign donation" - any more than they care for the people of Haiti, Honduras, occupied Palestine, or AMERICANS DEFRAUDED by fraudulent "sub-prime loans" and fraudulent foreclosures.
http://market-ticker.org/akcs-www?post=189922
http://www.ritholtz.com/blog/2011/07/will-the-ags-turn-the-us-into-a-banktocracy/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
This - the abject fraud & corruption of the U.S. 112th Con-gress, taking bankster bribes, while IGNORING the above titanic FRAUDS in foreclosures & critical U.S. foreclosure markets - is getting pretty damn close to the Nazis stealing apartments, businesses, and assets from one group of people (the victims) and handing it to another group (the regime & its alcolytes).
Anyone who believes that any politician is sincere about "austerity" is a complete fool. As I been sayin'. It's all talk that we've been hearing for over 30 years now, that they use to convince the gullible that they care about the country.
Their paymasters say different. They say "Ponzi on" and the politicians go running. Then the politicians and the paymasters gorge themselves at the Fed trough on "monetary stimulus" money. And then they tell you the ultimate lie: "It'll trickle down to you. Eventually". Yeah. Only bodily fluids trickle, not money.
Austerity is for the little people; digusting trash in washington are too financially well-padded to feel any effects of austerity measures. They'll talk about hardships, but they will not experience it. They're all a bunch of pontificating corporate whores.
I like entertainment as much as the next person...
But this thread is about as 'Jerry Springer/Maury Povich' as it gets...
I hope everyone had fun...
http://www.youtube.com/watch?v=u48PvBTl3u8
http://www.youtube.com/watch?v=vt2i0ts-uck
Get a grip, Tyler. obama is OWNED by his GoddamnSachs + israel war lobby handlers. There is NOT a fly s*** spec of difference between Obama's 1st Chief of Staff - Freddie Mac defrauding Rahm Emanuel - and Rethuglican House Majority 'Leader' Eric Cantor.
THEY BOTH REPRESENT the GS/JPM/Fed (= R's) money-printing monopoly DEBT cartel, and israel war lobby. Same with LIEBERMAN, SCHUMER, FEINSTEIN, blankfein, gensler, kagan, schapiro, bernstein, etc. etc. etc.)
Obama is JUST NOW LEARNING, that he is BEING USED, as the SCAPEGOAT for the Rubin/Summers/Paulson/Blankfein/Dimon/Greenspan BERNANKE DEBT that these swindlers CREATE OUT OF THIN AIR, and then _STICK_ to millions of American consumers, working households, & taxpayers (by bribing con-gress & presidents, and by getting away with fraud).
Emanuel TRASHED the great DEMOCRATIC MAJORITY that swept Obama into White House in Jan. 2009, before (like a rat) he jumped the sinking ship, and Cantor & co. are doing the same - TRASHING THE JOINT - the the late "UNITED States of A" as we speak...
SO BY ALL MEANS, TYLER - CHEER ON ERIC CANTOR !!
spot on with the rant and the tone......
thanks for saving me the high blood pressure
The poll results come from Vision To America. This is their self-descrioption:
Vision To America is a division of Christian Worldview Communications, LLC. Founded in 2006 by Gary DeMar and Brandon Vallorani, Vision to America exists to help America return to our Founding Father’s vision for a Christian Republic. America was once a light to the world—a place that God blessed with liberty and prosperity. Today, Americans are taught that the Almighty State has all the answers. As a result, our God-given liberties are being traded for a false sense of security. It is our Vision to see Americans once again recognize that we are endowed by our Creator with certain unalienable rights and that this Creator is the God of the Bible.
Read more: About Us | Vision to America http://visiontoamerica.org/about-us/#ixzz1S3GYmVbN The core of this article is bogus other than "Tyler Durden's" ideology. The whole thing as well as most of the comments are an embarrasment.you should read Amendment 1 to the Constitution to the United States of America. You know, the one about freedom of religion?
and as for your shameless plug & insult, no one is forcing you to post or read ZH.
So go back to your child porn websites and don't come back here if you don't like it! You pathetic, brainless wanker!
thanks or pointing that out. Looks like many ZH'ers fancy themselves part of the "MORAL MAJORITY" - you know, the folks who supported segregation (if not slavery), and all the massacres, baby-killings, genocides, systematic rapes and other atrocities espoused in the (so-called) "holy bible" justifying one group's blood-thirsty, mass-murderous conquest march in to the blood-drenched "holy land."
What will Obama do when the Teleprompter speaks only in Chinese -?
metallica one
I have that feeling I had when my Mom and Dad went out for a long date night and left my older Brother and Sister in charge of babysitting.
Eeek; can I go in my room and do homework?
http://gmbpost.com/politics/pictures-mumbai-blast-pour-your-condolences/
mumbai bladt heart breaking pics
Not Ready for Prime Time Obama. As to the putting country first, the question is which?
the second amendment is a fail safe insurance policy for this eventuality.
http://www.businessinsider.com/remember-moodys-and-the-debt-ceiling-blow...
Im going back to bed. Good morning
Maybe they'll give him another Nobel PC Prize. Do they have one in the "hissy fit" category?!?
The key to the meetings is not to give Obama any difficult questions in a meeting at the 11th hour. He needs time to get prepped with the talking points from his speach writers.
It is imparative that all questions or statements addressed to Obama on deadline day are kept to four words sentences or less.
Examples:
"Will you sign bill?"
"Do you agree President?"
"Do you want water?"
obama was going to use his other side...the half black side and settle matters with a gun.
racist but I'll be glad if he actually did it. clean the house...it is dirty.
joking about obuma acting like a 17 y.o. spoiled brat or pysch case just got some added support: base line no reporter should shout questions at the little lady..PMS or something I guess
"A long-running tiff between the White House press corps and the West Wing over presidential access flared anew today when press secretary Jay Carney faced off with reporters over the right to shout questions at the president during debt talks.
"
Respect my authoritaaaaa
re "DEBT CEILING" the standard meme across America's whore-iffic "major media" is to CONFLATE "BAIL OUTS for banksters"... using CREATED OUT OF THIN-AIR Bernanke bucks $$ FIAT DEBT MONEY - with "government spending" for actual production & distribution of useful goods & services.
How ZeroHedge can fall for this theme - after all the thousands of articles you have run about Bernanke's "QE" 'money'/DEBT CREATION, foreclosure fraud (that benefits the banks), and OFF BALANCE SHEET DERIVATIVES "debt overhang" (that imply FUTURE "bailouts" of an even greater portion of government 'spending') - is beyond me.
You know that creating more money DILUTES the $$ held in people's savings, or paychecks, and that they then must SPEND MORE ON TAXES as INFLATION eats those savings & paychecks with higher priced goods.
The fact that the "Too Big To Fail" banks are now BIGGER and CONTROL MORE of the economy than they did in 2008, means - is de facto evidence - that they are TAKING A BIGGER SLICE of the economic pie today - THIS is where the DEBT comes from - but you are joining the plutocrats in shouting "CHOP SOCIAL SECURITY" and "CUT SPENDING" !!
Obama's only plan will be one gigantic shotgun blast of dollars into the economy before 2012 elections. He will give anything and everything away to make his chance for reelection happen. Chaos will certainly be the result from his madness and believe me, he could care less.
Bam bam ain't got plan.
Bam read script.
Bam play golf.
nm
Tirades and tantrums from the Teleprompter Tyrant!
he bravely ran and he bravley fled , brave obama