Boehner Issues Statement

Tyler Durden's picture

Moments ago, Boehner voted to enact "Obama's tax cuts", which is the new de facto Bush tax cuts (which expired yesterday), and which will raise the budget deficit over the next decade by $4 trillion, yet which at the same time paradoxically also hiked taxes on nearly three quarters of Americans with an emphasis on the wealthiest 1%. Now, Boehner also issues a statement to advise his constituency just what issue he will cave on next: spending.

House Speaker John Boehner (R-OH) issued the following statement following passage of the Senate agreement on the fiscal cliff:

“The federal government has a spending problem that has led to a $16 trillion national debt that threatens our country’s future.  On the day after the election, I proposed that both parties work together to avert the fiscal cliff in a manner that would ensure 2013 is the year we finally enact entitlement reform and pro-growth tax reform to begin to solve our country’s debt problem.

 

“Now the focus turns to spending.  The American people re-elected a Republican majority in the House, and we will use it in 2013 to hold the president accountable for the ‘balanced’ approach he promised, meaning significant spending cuts and reforms to the entitlement programs that are driving our country deeper and deeper into debt.

 

“Without meaningful reform of entitlements, real spending controls, and a fairer, cleaner tax code, our debt will continue to grow, and our economy will continue to stumble.  Republicans stand for a stronger, more prosperous America, rich in opportunity and free of the debt that threatens our children’s future.  On this New Year’s Day, we renew our commitment to that vision, humbled by the opportunity to serve.”

And just in case anyone is still confused what happened today, the only thing the US voted through today was the Fiscal equivalent of 3 weeks worth of Fed debt monetization. Although at this rate, it is becoming a safe bet the GOP will cave on pretty much everything else too.

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Jacque Itch's picture

Shirley you can't be serious...

weyes1's picture

He's entirely fucking serious, and quit calling him Shirley

knukles's picture

Vote's close enough for government work.

THX 1178's picture

Someone reassure me that "It" will come.

Mr Pink's picture

Boner should have learned how to negotiate from Clarence Wurley

http://www.youtube.com/watch?v=N2omM1kTbOg

Supernova Born's picture

Let Obama own the collapse. There is nothing the R's could have done other than serve themselves up as scapegoat kebabs "fully" responsible the continuing depression.

Bernanke is sad too. He wanted the cliff/R to blame for what he knows he can never stop now.

Bindar Dundat's picture

Old Indian saying:  When deep in hole -- stop digging.

economics9698's picture

Here is my 2 cents worth in a blog I wrote about these useless MF's.

Tyler should print my shit. 

 http://usa-wethepeople.com/2013/01/fascist-america-and-forming-a-new-con...

rcintc's picture

We will gladly cut spending Tuesday for a higher tax rate Today!!

SilverIsKing's picture

You need to raise taxes first before you can cut them.

Just Ice's picture

Econ 9698:  Your blog article was well stated.  Thank you for the link.

Pegasus Muse's picture

Good stuff economics9698 .  Sharing it with friends & family.  Thanks.

mt paul's picture

old white man saying

give them longer handle shovel ..

Chief KnocAHoma's picture

This spending reduction argument is very much like my weekly argument with two children in my home:

ME - Go clean your room and study before you watch any TV.

(I stroll into the den 15 minutes later to find two children watching sports.)

ME - Did you clean your room and study?

CHILDREN - We'll do it later. Why don't you raise taxes now, then we'll do the dificult work when we feel like it old man.

Chief KnocAHoma's picture

And another thing:

Boner wishes he could get a boner. He is as limp as a ninety year old sock, and less interesting. 

The bottom line, however, is there ain't no solution to this freaking mess. Too many promises, to little real wealth and production, too little road, too few feet, too many cans.

Those smartass children of mine will eventually get one hell of a mess to clean up.

Bunga Bunga's picture

There is nothing left than kicking the can down the road. And all know it.

Temporalist's picture

"We're gonna need a bigger boot."

SilverIsKing's picture

For those earning more than the $167,843, this is a non-event. This is the point at which the full year FICA payment at 4.2% equals the full year FICA payment at the $113,700 tax limit at 6.2%. For those folks, it will change the timing of their contributions but by the end of the year, they would have contributed the same $7,049.40 regardless of this 2% change in the rate.

Sudden Debt's picture

We have drones and robots for everything... and yet we still need to kick cans ourselves...

 

SafelyGraze's picture

in order to assume more debt, banks needed tarp

and in order to assume more debt, the us needs more tax revenue

that's the problem with not increasing leverage

Jugdish's picture

I didn't even have to watch your clip or click on it to know what your getting at. I love you bro. Bro love. Frat bro's for life j/k. Na you da man though. Sicillians and the whole of Southern europe and soon to be lower 48 were spawned by niggers. I'm 26. fuck these boomer assholes.

Marginal_Futility's picture

Totally random comment about Sicilians? What gives holmes?

perchprism's picture

 

He told you already----he's 26.

 

caconhma's picture

This article makes me laugh my ass off: $4T additional deficit in the next 10 years!? WOW!

I would not be surprised to see it al least 10 times as high.

Overfed's picture

Yes. $ 4trillion moar on top of the other ~$12 trillion that will be accumulated on the debt over the next decade for a grand total of another $16 trilllion. At least.

HardAssets's picture

I just wasted 15 seconds reading The Boners statement. I knew what the damned politician was gonna say beforehand - why read it ?

It comes down to "The American people get screwed over by the insiders . . . again."

It'll keep going like this . . . . till one day it crashes. And then theyll be ready with their next 'solution'.

Mentaliusanything's picture

No its a true fact ....The Hoover Dam was built over five years from 1930 - 1935.When full its reservoir holds 9.2 trillion gallons of water 

Take a look you bone(er) heads.

Facts are such a bitch

come in the waters FINE BITCHES

Oh and Fuck you Bernake!!!!!

Would it be sarcastic to say start bailing 2 Hover dams Full.... Fuck me America likes work but ....

"This is insane"

a growing concern's picture

Looks like you picked the wrong week to stop sniffing glue.

Mentaliusanything's picture

It was not glue. I gave up the booze and craved water.. Lots of water ... so as you see, Water is Wet Facts are Facts and your up shit creek in a barbed wire canoe without a snowballs chance in Hell of bailing this out.

philipat's picture

I disagree. I think it is actually quite a smart strategy. The Repubs cannot be accused of a tax hike on most Americans and can argue that they have done the right thing for the country. They can now gain the high ground for the Debt ceiling debate. The Repubs position should be, we went along with your tax hikes, now we need the spending cuts. No cuts, no incease in the debt ceiling. Either way, start cutting.

And don't call me Shirley....

Lore's picture

..."meaning significant spending cuts"..."start cutting"...

Beginning with the F-35 program and bringing the troops home? 

philipat's picture

Yes, I certainly agree that "Defence" (Against whom?) cuts should be part of the mix. The Defence budget is so large that I'm sure 10-20% cut be taken out with very little effort and without cutting into viablity.

Burr's 2nd Shot's picture

It is spelled with an "s" in the country where the cuts will actually occur, comrade.

philipat's picture

The US would actually appear to be the biggest Socialist State these days, certainly in terms of the scale of welfare spending. With a Marxist President, I suppose that should come as no surprise?

Other than that, learn ENGLISH. Comrade. That is MY language NOT yours. Should you wish NOT to make cuts to all items, including defenCe and go bankrupt, please go ahead. It was just a friendly suggestion. That is how Reagan bankrupted The USSA. Sorry, USSR.

 

http://grammarist.com/spelling/defence-defense/

Burr's 2nd Shot's picture

My apologies for being inarticulate. What I meant to say was:

Save your opinions on how my government spends my tax dollars, and worry about your own country's impending bankruptcy. It doesn't matter which "c for s substituting" country you live in, they are all collapsing under the weight of their social programs. You may also wish to consider what an omnipresent US military power allows in terms of reduced spending by your own government, and the impact removing such a presence will have on your economic security.

Lore's picture

 

 

Considering the proliferation of US bases and military projection planet-wide, 'Offense' seems equally pertinent, in the spirit of Orwell's "War is Peace, Freedom is Slavery, Ignorance is Strength": Offence is Defense.

More importantly, the matter of funding all that stuff at this juncture seems more like a RISK to national security than a MEANS.  But that's assuredly a matter for better minds than mine.

Lucius Cornelius Sulla's picture

I think it was a decent move in the chess game.  It really doesn't matter what is done at this point.  Whether by spending cuts or out of control debts, a recession is baked in the cake.  The key point is that whomever is in power will be blamed for it.

ball-and-chain's picture

To Boehner's credit, he hasn't had a good cry lately.

What happened?

That guy used to tear-up if the wind blew too hard.

http://www.angrysinner.blogspot.kr/2013/01/yesterday-dragon-lady-made-beef-and-egg.html

Snoopy the Economist's picture

((Shirley you can't be serious...))

"Yes I'm serious...and don't call me Shirley".

ACP's picture

Fuck you Boner.

wee-weed up's picture

Boner, you impotent bastard!

ACP's picture

Here's the translation:

“The federal government has a spending problem that has led to a $16 trillion national debt that threatens our country’s future. But because of the fact that I am a big pussy, and frankly because of the fact that it's not in my best interests to do the right thing, I have decided to push Americans farther down the slippery slope in order to further my political career. The American people re-elected a Republican majority in the House in order to attempt to at least stabilize the national debt, but since printing more money and bribing our cronies and non-working constituents is all we and the Democrats know, we will stay the course and I will personally punish anyone who dares disagree with me. I am humbled by the opportunity to steal from, and destroy the citizens of the United States. If you don't like it, you can suck my dick."

Max Hunter's picture

Getting screwed by the false left/right paradigm.. Who'd of thunk it?

Disenchanted's picture

 

 

A simple question...was the Senate bill a raising revenue bill?

 

All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.

 

from Article 1 Section 7 US Constitution

 

Seems to me this whole charade was Constitutionally bass-ackwards.