Rand Paul Threatens To Filibuster Debt Ceiling Talks Until Balanced Budget Constitutional Amendment Passes

Tyler Durden's picture

When it was reported last week that Eric Cantor, who had just walked out of Biden's debt ceiling talks leaving Democrats to talk amongst themselves, was pushing for a "balance budget" amendment to the constitution, many took it as merely more posturing in the relentless debt ceiling drama that is rapidly approaching its inevitable conclusion (under one month left until August 3). It now appears that this may have been more than a bluff, at least to members of the Tea Party. According to the Huffington Post, "Sen. Rand Paul (R-Ky.) is planning a Senate filibuster next week in an attempt to force debt ceiling negotiations into the open." More: '"We've had not one minute of debate about the debt ceiling in any committee," he said in an interview with C-SPAN's "Newsmakers" that aired on Sunday. "We haven't had a budget in two years. We haven't had an appropriations bill in two years. So I'm part of the freshmen group in the Senate that's saying, 'no more.'" Paul's plan: "Next week, we will filibuster until we talk about the debt ceiling, until we talk about proposals."" He added that a group of senators in the "conservative wing" of the Republican Party will also be presenting a proposal to tie raising the debt limit to passage of a balanced budget amendment." So, just more posturing, which may now be indicative of the first splinters within the republican party, especially after John Cornyn said the GOP may accept a "mini deal" on raising the debt ceiling, or actual concerns about the debt hike that have to be appreciated? For now, at least judging by the market, the debt ceiling rise is a foregone deal.

More from HuffPo:

"[W]e will actually vote in favor of raising the debt ceiling next week if we can, but it will be contingent on passing a balanced budget amendment to the Constitution," he said, adding, "I'm not completely without the sense that we may need to raise the debt ceiling. But I will only do it if we have significant budgetary reform, and to me that means you have to balance your budget every year."

Paul's announcement picks up where Sen. Ron Johnson's (R-Wis.) one-man filibuster attempt last Tuesday left off. Johnson declared that as long as the debt ceiling negotiations are held behind closed doors, he would block all unanimous consent calls, effectively putting a stop on Senate business.

"Unless we receive some assurance from the Democrat leadership that we will actually start addressing our budget out in the open, in the bright light of day -- I will begin to object," Johnson said on the Senate floor.

Further indicating that Paul's noble attempts at curbing spending may be short-lived is a report from The Hill that Mitch McConnell, who has resisted a balanced budget amendment: "He argues that a balanced budget amendment, which requires a two-thirds vote in both chambers, simply doesn’t have enough votes to pass the upper chamber. But this has put him out of step with some of the hard-charging conservative freshmen in the upper chamber."

At this point it is probably not even worth the time to look at who funds whom out of the abovementioneds, although for those curious, here is the complete list of McConnell's lifetime contributors. Hopefully it is a not a surprise to anyone.

Contributor  ↓ Total  ↓ Indivs  ↓ PACs  ↓
Kindred Healthcare $180,200 $150,200 $30,000
UST Inc $128,100 $93,100 $35,000
Brown-Forman Corp $121,150 $82,650 $38,500
Elliott Management $114,000 $114,000 $0
UBS AG $107,950 $97,950 $10,000
Humana Inc $98,652 $74,777 $23,875
Citigroup Inc $93,750 $70,750 $23,000
Peabody Energy $93,700 $66,600 $27,100
Altria Group $91,950 $46,950 $45,000
Ashland Inc $90,358 $67,000 $23,358
AT&T Inc $77,050 $27,800 $49,250
United Parcel Service $74,600 $27,600 $47,000
General Electric $71,750 $40,450 $31,300
Greenebaum, Doll & McDonald $71,000 $75,000 $-4,000
Blue Cross/Blue Shield $69,750 $37,250 $32,500
Guardsmark Inc $67,100 $67,100 $0
Griffin Industries $66,750 $66,750 $0
FMR Corp $65,000 $54,000 $11,000
WPP Group $65,000 $61,000 $4,000
FedEx Corp $63,400 $29,400 $34,000

Below is Paul's warning clip:

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Libertarians for Prosperity's picture

No.  Not so awesome.  Just more hypocritical tea-party rhetoric, as usual. 

According to the Tax Foundation, Kentucky receives $1.59 in Federal spending for every $1.00 in taxes they send to Washington. Perhaps Rand should focus on his own backyard before he attempts to force austerity on everyone else.

 

aint no fortunate son's picture

You've got to wonder about a state that has as its 2 letter abbreviation a celebration of anal lubricants...

pods's picture

Protect her from your girth with the best lube on earth!

pods

wanklord's picture

By appealing to tons of bullshit about the Constitution and other patriotic crap, Senator Paul is able to seduce his brute and ignorant constituency, and most important to perpetuate himself in that position for years to come (a clever way to make easy money). Besides that, Americans are a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means.

NidStyles's picture

Yes, forgive us for not being the great beacon's of truth justice and equality such as yourself, oh wait...

fallout11's picture

+2 Bernancke Bucks for that astute observation.

TheTmfreak's picture

There is no question about it Kentucky is in bad shape and has been completely piss poorly managed. Its one of biggest federal teet suckling state of them all.

What would you rather him do? Ask for MORE federal dollars? Any critique of Kentucky's fiscal issues should fall squarely on the Governor and the state senate/reps.

A Nanny Moose's picture

Yeah, you are correct, but that is not the topic of the immediate battle. One domino at a time grasshopper.

FEDbuster's picture

We should get a reading list put together for Rand to read aloud during the filibuster.  I will donate my copies of Ludwig von Mises "Human Action" and F.A. Hayek's "The Road to Serfdom".  Any other recomendations??

fuu's picture

Zen and the Art of Motorcycle Maintenance

StychoKiller's picture

"Uncommon Cents - Benjamin Franklin's Secrets to Achieving Personal Financial Success", ISBN: 0-939817-06-3, by Lynn G. Robbins
 -----------------------------------------------------------------------------
"Economics in One Lesson", ISBN:  978-0-517-54823-3, by Henry Hazlitt
 -----------------------------------------------------------------------------
"Everything You Know Is Wrong: The Disinformation Guide to Secrets and Lies", ISBN 978-0-971-39420-9
 -----------------------------------------------------------------------------
The Dirty Dozen, How Twelve Supreme Court Cases Radically Expanded Government and Eroded Freedom  ISBN: 978-1-935308-27-0
 -----------------------------------------------------------------------------
"Dreams Come Due, Government and Economics as if Freedom Mattered", ISBN: 0-671-61159-3, by John Galt
The book is dated, but many of the things it talks about are still valid today.
 -----------------------------------------------------------------------------
"The Big Short" by Michael Lewis, ISBN: 978-0-393-07223-5

 

carbonmutant's picture

It's unfortunate that it takes a state like Kentucky to set an example for the more fiscally responsible ones

Hopefully other states will join in the filibuster...

Larry Darrell's picture

Keep spouting off pre-manufactured talking points without doing any underlying research as to why the numbers look the way they do.

 

Yes, KY does get back 1.59 for every 1.00 sent in, but lets looks below the surface.

 

KY is home to Fort Knox and Fort Campbell.  Both of these outfits which are FEDERAL MIC skew the data.

 

Subtract those funds and the picture is a little clearer.  As a KY resident, I would love to see the MIC reduced in size, and so does Rand Paul.  So, no hypocrisy in his stance on this issue.

He actually already addressed this exact question / issue in an interview with a local radio personality.  Do a little research and you'd know where he stands.

 

Oh wait, you're just another tool who recites shit you hear from the establishment Republicrat owned media whores trying to discredit someone who actually understands LIBERTY AND RESPONSIBILITY GO HAND IN HAND.

Fuck off and slither back into whatever hole you came from.

fallout11's picture

Hit a little too close to home for you there, eh?  

Care to name a single US state WITHOUT a major MIC presence? Go on, I'm waiting....

Fort Knox is downsizing, the armored school and division have already left. As for Campbell, it's mostly empty land/reservation. 

 

Larry Darrell's picture

"Hit a little too close to home for you there, eh?"

Perhaps.......hehehe.

 

Fort Knox is not exactly downsizing, however.  They did eliminate the entire tank division....I've saw miles of train cars loaded with tanks heading off to their new home.  I haven't paid much attention to what they are bringing in to keep all those boys entertained next, but I do know that they are adding a couple of thousand more uniforms.  The constant expansion of Fort Knox has kept residential real estate demand high enough since the bottom fell out that prices in Radcliff/Elizabethtown haven't taken a beating.

 

My real point was, Rand Paul has been asked point blank about the imbalances in KY pay in vs receivables from the FedGov.  It's not an issue he is clueless about as the original comment was slanted to imply.  So don't run around lobbing character assassinations at an individual who just arrived on the scene and actually appears to be trying to to the right things so far.

I'm as cynical and untrusting as anyone else, but if he is just another crooked SOB, it will be evident quickly enough that we don't have to lay extra land mines and set agendas against him.

 

And for the record, the MIC footprint appears fairly small in Wyoming.

http://www.nps.gov/history/nagpra/DOCUMENTS/BASES.PDF

 

Moe Howard's picture

There was not a Armored Division at Fort Knox for a long time. There were training units, {the Armor School}, they used tanks of course to train the tankers, and they also trained cav scouts. In addition, the NCO Academy trained PLDC, Armor BNCOC and ANCOC. These types of schools have little financial impact in the area. Also there were some Officer courses here. I got to Knox in 1994 and any deployable Armor Unit was gone before I arrived, and the Infantry at Knox was leaving as I was inprocessing. I was a Infantryman and there were no slots for me a short time after I arrived on post, except at the NCO Academy.

LowProfile's picture

What the guy above said.

Moe Howard's picture

I live 8 miles from Fort Knox, my wife works at IACH. It did not downsize. You don't have a clue, and your comments show it. The Armor School is leaving - almost gone. There was no "Division" here for many years. They just built a new huge building for Human Resources, which they have moved here to replace the Armor School, basically a one for one trade in personnel, and they have brought an actual deployable combat unit here from Fort Hood [3rd BDE, 1st IN DIV, adding 3400 troops, plus family members. Almost a billion dollars has been spend on Fort Knox for this changeover. The highways are clogged in the area at start and quiting time, unlike before the change up. Fort Campbell is home to the 101st IN DIV, Air-mobile, four full brigades and two aviation brigades, plus an "ass and trash" brigade.

You are clueless. These are two of the larger installations in CONUS. As for empty land, that is called "training areas" and "impact areas". You can't train troops without "empty land/reservation".

I guess facts are things that hit too close to home for you.

macholatte's picture

Was Rand Paul responsible for the Kentucky budget? What does that have to do with his efforts to change the Federal budget?

Take your sideshow to tent #6 down the pike and behind the outhouse.

 

During times of universal deceit, telling the truth becomes a revolutionary act.
George Orwell

infotechsailor's picture

so what if kentucky takes in more federal tax dollars than it sends in? Is it Rand's fault that the previous decades of congress have been shelling out money they don't have?

 

ISNT THAT EXACTLY WHAT HE'S TALKING ABOUT RIGHT HERE?

I JUNK your ignorant statement.

iLoveMisesToPieces's picture

Rand Paul is the only person I've seen in government that is truly rattling cages.  What happened to the wanker, tea-party express and all of their faux outrage?  I guess they're only concerned about keeping government out of their Medicare.

firstdivision's picture

In politics cage rattling = name in headlines, nothing more. 

iLoveMisesToPieces's picture

Agreed, but I really don't see what more one man can do.  Quite honestly, it seems like it is Rand Paul vs the United States government at this point.

Chuck Walla's picture

Well, someone needs to start this.  So what if he tilts at windmills, A journey of a thousand miles starts with the first step. So get that guy some freaking' shoes, not this defeatist BS.  If not him, Who?  If not now, When?

azusgm's picture

Rand Paul is instigating a discussion besides attempting to restore the contitutional legislative process. TPTB obviously do not want the people to engage in an honest discussion. They don't want the electorate to examine the issues and vote our displeasure. They'd rather have you hanging onto trials that have nothing to do with money, banks, central banking, overwhelming debt, enslavement, or politics.

Thank God for Rand Paul. Surely he must understand that he may end up taking a bullet for you and me and our children.

Amazing how the MSM has so many trained to snicker reflexively while circling the toilet drain.

tarsubil's picture

If he is honest and persists, I wouldn't be surprised if he did have an accident before he catches on anymore. As of now, they'll just use the MSM and trolls to discredit him with a bunch of BS.

aheady's picture

Welcome back my friends to the show that never ends
We're so glad could attend - come inside, come inside

SheepDog-One's picture

The tea party is such a nutless fraud. Everyones biggest fear is any truth entering the Ponzi....lets focus on Greece a TINY $100 billion problem, nevermind our own $600 trillion debt because to actually address it and admit we're completely screwed and bankrupt in a 0% production economic model would have 'disastrous consequences'...
LMAO

iLoveMisesToPieces's picture

I think you're exactly right.  A lot more people know and understand (at all levels) what's going on.  As bright as the ZH crowd is, I promise you it doesn't take that many combined brain cells to understand something is seriously wrong.  I think a lot of them see the analogy of the marriage that stays together for the kids even though the adults hate each other and know everything is complete fake.

Chuck Walla's picture

Could you be anymore clueless? Or are you another OFA drone out to try the propaganda schtick?

iLoveMisesToPieces's picture

How is he wrong?  The tea party seems to take is lead from Obama... all campaign, no substance.  They're the fake liberty movement.  The sooner people realize this the sooner we can all evolve.

Larry Darrell's picture

"They're the fake liberty movement"

 

I think this assessment is spot on.  They were co-opted early.  If there was any substance behind the Tea Party, they would simply put out the word for all producers in this economy to stop sending in any tax receipts.

 

Nothing would get the attention of the Politicians faster than if every small business owner in America didn't send in their monthly payment one month.

Richardk888's picture

Agreed, just look at how Bachman voted two times on the extension of the Patriot Act yet she campaigned on smaller federal government.

How do you know a politician is lying?

Richardk888's picture

I am a big Paul supporter though for POTUS.

FEDbuster's picture

The original "Tea Party" movement was in support of Ron Paul's 2008 bid for the republican nomination back in 2006.  The most recent incarnation of the "Tea Party" is a phoney Dick Armey hijacked anti-Obamacare/anti-Obama, Glenn Beck like creation. 

 

Sudden Debt's picture

I guess 8 sheep junked you because the want to be part of the herd...

 

Indeed the "look over there and see how bad they are" game hasn't stopped for years. It's like a game! Now Europe, than the US, Euro, US....

And never we see how it ends because just in to before anybody sees any details or results we get another show.

And nobody ever talks about it anymore... Most don't even remember the events after 3 months!

And every time we sink deeper and deeper in the quicksand, and always there will be somebody "worse off" in the comming month...

 

Freddie's picture

Weird that ZH still has a lot of 2008 Hope and Change ***k **ck*rs.

firstdivision's picture

I cannot understand that last part, as it seems your parents have a filter on your web browser.

GeneMarchbanks's picture

fd,

Freddie doesn't understand that our postings here simply convey thoughts. He meant to write dick suckers. The tragic part is when these same sad saps talk about a "revolution" yet have trouble typing out the word 'fuck'.

fallout11's picture

Ah yes, another useless comment from the nutless wonder. You came to a battle of wits unarmed.

Fukushima Sam's picture

I'm betting it was "cock suckers".

minsky4ever's picture

Given the fact that three quarters of the states have to ratify an amendment and there's usually a seven year time limit for it to be ratified, good old Rand will either have moved on to other endeavors or he will be one boring fuck for 7 years.