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Boehner Abbreviated: Obama Approves Plan B Or Is Reponsible For The Largest Tax Hike In US History

Tyler Durden's picture




 

Yesterday, while the market was absolutely euphoric that a Fiscal Cliff deal was imminent in the aftermath of the release of PR theatrics also known as "Plan B" we said:

Moments ago, Boehner confirmed that, at least as of this moment, this is precisely the plan, when he said that tomorrow the House will pass legislation extending tax cuts on those with incomes over $1 MM. He added next that Obama can either convince the Senate to pass "Plan B" (which won't happen) or be responsible for the largest tax hike in history. And now the ball is in Obama's court, where things look increasingly bleak that any further compromises are imminent, and the only thing that Obama will retort with is a veto to the House's vote.

So are GETCO's algos still 1000% certain there is a compromise coming?

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Wed, 12/19/2012 - 15:29 | 3079804 Zen Bernanke
Zen Bernanke's picture

obama, like the honey badger, don't give a shit. 

Wed, 12/19/2012 - 15:50 | 3079904 Silver Bug
Silver Bug's picture

Get ready for a bumpy ride. Keep stacking.

 

http://ericsprott.blogspot.ca/

Wed, 12/19/2012 - 16:34 | 3080058 candyman
candyman's picture

As Obama states daily he is just following the "mandate" of this election, which is apparently to go over the cliff.

Wed, 12/19/2012 - 16:45 | 3080093 trav777
trav777's picture

it means the most in terms of new taxes, don't it?

Wed, 12/19/2012 - 17:13 | 3080178 Beam Me Up Scotty
Beam Me Up Scotty's picture

Isn't it going to be bad if we go over the physical cliff?

Wed, 12/19/2012 - 17:48 | 3080320 Chief KnocAHoma
Chief KnocAHoma's picture

The goal is to crash this mother fucker so all bets are off.

You have a t-bill that pays you interest... tough shit... tell your story walking.

You depend on your social security check every month to eat... pound sand old timer and die hungry.

You use you EBT card to feed your nine kids... get lost bitch... let those kids go steal something for you to eat.

What did you say China? You want your fucking interest and pricipal? How about we come over there and bomb you back to the stone age. Then when you wake up, we'll be there to bomb you again.

Anybody else want some?

 

Wed, 12/19/2012 - 15:51 | 3079912 I Am Not a Copp...
I Am Not a Copper Top's picture

something is wrong - the market is going down

Wed, 12/19/2012 - 15:28 | 3079807 azzhatter
azzhatter's picture

Was he crying

Wed, 12/19/2012 - 15:32 | 3079820 MillionDollarBoner_
MillionDollarBoner_'s picture

Ohhh...the HUMANITY!!!...

Wed, 12/19/2012 - 15:49 | 3079881 AlaricBalth
AlaricBalth's picture

There once was a man Boehner, from Dayton.

Who had a tax code he felt he must straighten.

He said with much vile,

and nary a smile.

I think that Obama is Satan.

(Where are you when I need you, Limerick King?)

Wed, 12/19/2012 - 16:10 | 3079994 TheProphet
TheProphet's picture

I give that a +16 trillion!

Wed, 12/19/2012 - 17:52 | 3080211 redpill
redpill's picture

 

There once was a pol named Boehner,

Always made deals for big donors

But when it comes to the cliff

Might as well roll up a spliff

Cuz he'll cave to Obama the stoner!

 

Wed, 12/19/2012 - 22:28 | 3081323 AlaricBalth
AlaricBalth's picture

Excellent

Wed, 12/19/2012 - 15:46 | 3079894 CPL
CPL's picture

If they keep printing this way everyone is going to be a millionaire soon.

Wed, 12/19/2012 - 15:52 | 3079911 wee-weed up
wee-weed up's picture

Zimbabwe R US

Wed, 12/19/2012 - 15:53 | 3079919 new game
new game's picture

they all suck donkey dick...

Wed, 12/19/2012 - 17:07 | 3080162 Beam Me Up Scotty
Beam Me Up Scotty's picture

More like everyone will be a million dollars in debt. 

Wed, 12/19/2012 - 15:54 | 3079888 Ignatius
Ignatius's picture

I'd give my left nut for a 'do nothing' congress.

But then, I think, what's the point of getting elected to Congress or becoming President if you can't hand out favors to your friends.  /sarc

Jeesus, it's not the problem, it's the 'problem solvers' that muck it all up.

Wed, 12/19/2012 - 16:36 | 3080062 flattrader
flattrader's picture

Sad orange man.

Wed, 12/19/2012 - 15:29 | 3079808 ImnotPOTUS
ImnotPOTUS's picture

Obama conceeds with half way point.

Taxes to go up on all incomes over $666,000.00

Wed, 12/19/2012 - 15:31 | 3079816 ImnotPOTUS
ImnotPOTUS's picture

We are all going to end up in hell in a hand baskets anyway, might as well be poetic about it.

Wed, 12/19/2012 - 15:54 | 3079927 inevitablecollapse
inevitablecollapse's picture

lop those zeroes off, then we have a deal!

Wed, 12/19/2012 - 15:29 | 3079811 docj
docj's picture

Well, that's the approach that's kinda-sorta outlined in the document they're all supposed to be following (that being, laughably, the Constitution) as opposed to these back-room "stuper-committee" deals.

How novel. How quaint.

Wed, 12/19/2012 - 15:30 | 3079813 youngman
youngman's picture

But Obama has the press behind him...so the truth will be trown out the window....doesn´t matter Obama voters are in tune with this game anyway...

Wed, 12/19/2012 - 15:40 | 3079870 Zen Bernanke
Zen Bernanke's picture

not only does he have the press in his pocket, he also has those 50 million US citizens on welfare and food stamps and other gov't assistance.

Wed, 12/19/2012 - 21:47 | 3081189 lakecity55
lakecity55's picture

"Rise, my flyingmonkeys and take to the sky! The Man has kept you down too long. All o' his stuff are now belong to you!  Go, my pets, take all you want from The Man!   BWaaahahahhaha!

Wed, 12/19/2012 - 15:43 | 3079876 otto skorzeny
otto skorzeny's picture

my b-in-law is a dyed in the wool O-lovin' lib union steelworker(his kids are all on welfare) and I  read him the litany of The Messiah's sins and he just sits there and gives me this glassy-eyed stare-I might as well be talking to his dog(named PETA-seriously). it's bizzare how people process things any more.

Wed, 12/19/2012 - 15:59 | 3079943 new game
new game's picture

welcome to the matrix where nothing is real anymore and it takes a village to think of the proper course of actio n to take.

join one, join all, you are all just collectivists in the wall...

he fucking hah...

Wed, 12/19/2012 - 16:37 | 3080061 dracos_ghost
dracos_ghost's picture

+1.

I always wondered how, throughout history, despicable fucks like Hitler, Stalin, <insert any despot here>. could come off as demi-gods while doing some of the most evil shit. I now know since we are living it with BO.

Wed, 12/19/2012 - 17:02 | 3080142 kraschenbern
kraschenbern's picture

Until you can replicate it - you don't know it.

Wed, 12/19/2012 - 16:49 | 3080103 Joe moneybags
Joe moneybags's picture

America won't hold Obama responsible.  The 98% want the top 2% to kick in more.  Boner is playing to only about 1.5%, those in the bracket between 200K and 1 mil.

Poor old Newt can tell you who gets blamed when the federal teat runs dry.

Wed, 12/19/2012 - 15:31 | 3079815 Cdad
Cdad's picture

The vindication of a lot of folks who might be politely called "Obama Skeptics" is now at hand.  The thought all along has been that President Zero WANTS to go over the cliff.  

Unless GETCO says otherwise, I guess.

Wed, 12/19/2012 - 15:33 | 3079824 Cdad
Cdad's picture

Prepare the parachutes...as well as the "Emergency Legislation."  Can't be wasting a perfectly good crisis, now can we?

Wed, 12/19/2012 - 15:55 | 3079930 mckee
mckee's picture

I agree he wants to go over the cliff, however, I'm beginning to believe that the cliff is far less worrisome than what these doorknobs are likely to devise to prevent it.

Wed, 12/19/2012 - 16:39 | 3080070 flattrader
flattrader's picture

Yes. Exactly.

Cliff. Splat. Good.

Wed, 12/19/2012 - 16:40 | 3080073 eclectic syncretist
eclectic syncretist's picture

Of course they want to go over the cliff at this point with the Fed printing full speed ahead, because it supports the lie that people need to suffer to produce Federal Reserve notes (bills of credit).  The only question is the political one of how to do so that the populace blames the other party rather than the FedGov system itself, which is the true culprit.

Wed, 12/19/2012 - 20:29 | 3080944 Quantum Nucleonics
Quantum Nucleonics's picture

Team Obama knows they have more negotiating leverage after we're over the fiscal cliff.  It has always been Boehner's task to be able to go over the cliff without Obama being able to blame him, and get to the March debt ceiling increase where the leverage shifts to Republicans.

Wed, 12/19/2012 - 15:30 | 3079817 buzzsaw99
buzzsaw99's picture

fancy pants

Wed, 12/19/2012 - 15:32 | 3079823 Waterfallsparkles
Waterfallsparkles's picture

So proud of Boehner.  Obama was not budging and wanted exclusive control of the Debt limit.  That is more like a Dictator than a President.

Plus, I really do not think that there really is a Fiscal Cliff.  It was only to push for a deal in a drumed up stress situation.  No reason why this cannot go into next year.

Wed, 12/19/2012 - 15:46 | 3079885 drivenZ
drivenZ's picture

As I said yesterday, Boehner is trying to save his job...

 

"Boehner's re-election for speaker is on Jan 3rd. If he gives to much to Obama he'll be voted out of his speakership. A week or two long cliff dive into january would not surprise me. "

Wed, 12/19/2012 - 15:32 | 3079825 Boilermaker
Boilermaker's picture

BLAMESTORMING THIS MUTHA!!!

Wed, 12/19/2012 - 15:33 | 3079827 Vashta Nerada
Vashta Nerada's picture

I think you meant extend tax cuts on those under $1M, but overall, let's hope for some intestinal fortitude amongst the house members to actually do this.

Wed, 12/19/2012 - 15:33 | 3079833 Piranhanoia
Piranhanoia's picture

If the senate blocks the house bill,  it won't come to the president's desk

Wed, 12/19/2012 - 15:34 | 3079840 Waterfallsparkles
Waterfallsparkles's picture

I do not know why the Market is not up on this because now it is on the shelf until next year.

Wed, 12/19/2012 - 15:35 | 3079845 fuu
fuu's picture

Aww look the puppet show goes on and on and on and on and...

Let's not forget that neither of these groups have our best interests at heart.

Wed, 12/19/2012 - 15:48 | 3079891 noob
noob's picture

thanks/ I (almost) forgot (?)  /sarc

Wed, 12/19/2012 - 15:48 | 3079899 OneTinSoldier66
OneTinSoldier66's picture

+1

 

If we don't go over the cliff then the cliff just keeps getting bigger, which is not in our best interest. There will be a deal. This year? Don't know. But there will be a "deal" to keep the ponzi going, which is indeed not in our best interest.

Wed, 12/19/2012 - 16:53 | 3080110 DosZap
DosZap's picture

If we don't go over the cliff then the cliff just keeps getting bigger, which is not in our best interest. There will be a deal. This year? Don't know. But there will be a "deal" to keep the ponzi going, which is indeed not in our best interest.

 

The deal is we go over the cliff, so Obamatron, gets to raise taxes carte blanche on EVERYONE, making 50-60k a year, and above.

Hide n watch. Really, WHAT does he have to lose?.

Wed, 12/19/2012 - 15:38 | 3079853 Flakmeister
Flakmeister's picture

O will call his bluff, over the Cliff and the Repubs will lose... Itll be just like Newt and Clinton...

Wed, 12/19/2012 - 15:46 | 3079882 Spastica Rex
Spastica Rex's picture

Every time I watch Roman Holiday, I still hope that Audrey Hepburn will turn around at the very last moment and run into Gregory Peck's arms. >SNIFF!<<

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