Republicans Considering "Temporary" Debt-Ceiling Increase

Tyler Durden's picture




 

In what is sure to be a complete non-starter with the Obama administration, WSJ reports that Paul Ryan said that "Republicans are discussing whether to support a short-term increase in the nation's borrowing authority, possibly linking the debt ceiling to future talks aimed at reaching a major deficit deal....Mr. Ryan said no decisions have been made about how to approach the debt and spending negotiations, but that leaders hope House Republicans will reach consensus on a strategy by the end of the week. The former vice-presidential candidate said "we're discussing the possible virtue of a short-term debt limit" increase that would lead to broader deficit talks with Senate Democrats and the White House. "We hope to achieve consensus on a plan to proceed so we can make progress on controlling spending and deficits and debt," Mr. Ryan said." The logical question immediately arose, and promptly received a non-answer "Mr. Ryan wouldn't say what he meant by a temporary debt-ceiling increase, declining to give a specific increase figure or timeframe for an extension."

Needless to say, Obama will hold out for nothing short of a full increase that lasts at least 2 years, and like in the summer of 2011, is accompanied by many promises about cutting future spending, and likely set up another "cliff" type automatic gate some time down the road which will will also have to be pushed back like the current one, which still has to have the spending side resolved. So while this is a lot of non-news, what it is is the starting position in negotiations, which now have 4 weeks to come to some conclusion before the US begins defaulting on 40% of its mandatory payments, although certainly not interst payments as explained yesterday.

For those curious how big the debt ceiling hike will have to be this time around, this too was shown yesterday:

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Thu, 01/17/2013 - 16:21 | 3163611 docj
docj's picture

Well, of course they are.

Thu, 01/17/2013 - 16:27 | 3163639 TruthInSunshine
TruthInSunshine's picture

Anyone who thinks the RINO Party will let their masters on or in Wall Street/DefenseInc/BigBanking/BigPharma/BigAgriculture down, when all the aforementioned are taxpayer mammary teat suckers of nth degree, must not realize the basic fact that Amerika is no longer a multiple party republican form of democracy, but a puppet & kangaroo mono-party corpocracy.

The debt ceiling will always and forever be raised, regardless of the "antics," because to do otherwise would be akin to shutting off the taxpayer/debt-serf milk supply to the real constituency of Amerika.

Thu, 01/17/2013 - 16:27 | 3163653 FL_Conservative
FL_Conservative's picture

How about temporary fucking politicians?

Thu, 01/17/2013 - 16:31 | 3163676 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

bitcoin flew past $15.  

 

Gosh, I was beggining to worry it woudn't grow by 10%/month like it did last year.

Thu, 01/17/2013 - 16:38 | 3163714 Pegasus Muse
Pegasus Muse's picture

Just out:   James Turk - Germany's Gold Is Being Held Hostage

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/17_James_Turk_-_Germanys_Gold_Is_Being_Held_Hostage_1.html 

Nothing ZH-ers don't already know/suspect.  Interesting piece though.

Might not be long until physical isn't available at any price.

Thu, 01/17/2013 - 16:52 | 3163771 strannick
strannick's picture

Arent all debt ceiling increases tempory? Until the next inevitable roof raising?

Thu, 01/17/2013 - 16:55 | 3163775 EscapingProgress
EscapingProgress's picture

"Nothing is so permanent as a temporary government program." - Milton Friedman

Thu, 01/17/2013 - 19:34 | 3164381 The Alarmist
The Alarmist's picture

The Republican Party of today seem to have developed enough flexibility to kiss their own asses goodbye.

Thu, 01/17/2013 - 19:53 | 3164469 Flakmeister
Flakmeister's picture

That already happened when they started kowtowing to the conservative media loons like Rush... In other words being held captive to unaccountable sources that were driven purely by profit... Fox News sealed the deal...

Case in point: When you think of it, has that blowhard Rush ever had anything constructive to say or add?

Thu, 01/17/2013 - 20:09 | 3164533 CompassionateFascist
CompassionateFascist's picture

Yes, he mentioned that FlakMadchen was a pussy. 

Thu, 01/17/2013 - 20:44 | 3164659 TerminalDebt
TerminalDebt's picture

we'll be here in a few years talking about whether they want to raise it to 27T or 30T.

Thu, 01/17/2013 - 21:49 | 3164854 Flakmeister
Flakmeister's picture

oooh....Did you think of that one all by yourself?

My fuck, if you dumb shits don't like what I type, come up with something constructive as a counterpoint...

You have no idea how fucking pathetic you come across when all you can offer is the above lame shit...

Thu, 01/17/2013 - 17:08 | 3163837 Zap Powerz
Zap Powerz's picture

Fuck these republican cunts. They are as useful as tits on a boar.

With an opposition party like the republicans, who needs allies?

Fri, 01/18/2013 - 08:37 | 3165641 kralizec
kralizec's picture

What do you expect from a party that openly despises and actively torpedoes at every opportunity every true conservative or libertarian that comes along?

The GOP is dead, the E-GOPer's are just too damn stupid to realize that.

I bet 2014 will be one of those off cycle elections that bucks the trend whereby the incumbent party loses big...I think the run of the mill GOP candidates get stomped primarily because nobody sees any point in voting for them!

Thu, 01/17/2013 - 20:34 | 3164620 Muddy1
Muddy1's picture

Thumbs up for you, my thoughts exactly.

Thu, 01/17/2013 - 16:53 | 3163772 economics9698
economics9698's picture

Fuck it, raise the MF up to $30 trillion and be done with it.  We can take bets on how high that debt will get before we get the crack-up boom.

Thu, 01/17/2013 - 17:03 | 3163822 Spastica Rex
Spastica Rex's picture

You don't understand theater.

Thu, 01/17/2013 - 17:33 | 3163931 HomeBrewPrepper
HomeBrewPrepper's picture

Obama just came out with a plan to cut unemployment.

He is gonna expand the NBA to 32,000 teams

Thu, 01/17/2013 - 17:54 | 3163995 FEDbuster
FEDbuster's picture

I hope the NHL gets the same treatment, you know for all the unemployed white guys.

Thu, 01/17/2013 - 19:13 | 3164259 AgAu_man
AgAu_man's picture

Yes, and further in the King World News we have a "WHY":

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/16_Why_Its_Taking_7_Years_For_Gold_To_Be_Returned_To_Germany.html

http://www.kingworldnews.com/kingworldnews/Gold.html

1. WHY The Delay = IT'S ALL GONE!

2. Both China and US Fed want to manipulate AU.  Each for own, but different reasons:

   2.a. US Fed can't have the USD (their FRN) loose GRC status, or no more printing-galore and the Empire collapses

   2.b.  The Chinese want the AU price low, so they can buy more (need more time!) to have enough for a Gold-backed Renminbi.

My take = In the meantime, both are trying to mess with the economy and sheep morale of the other.  Psy Ops 2013.

Everyone else -- you, me, all other Central Banks -- want Phyz-AU ASAP.  Tick, tock, tick, tock.

This "Debt Ceiling" debate is like arguing if we should go over a 160 foot cliff or 200 foot cliff.  It's already too late, so don't be a "schmuck", to fall for False-Flage Arguments.  Pack your damn Parachute and be ready to pull the Rip-Chord!

Thu, 01/17/2013 - 16:38 | 3163701 Popo
Popo's picture

Honestly if the Republicans are going to be the party of spineless pussies, I might as well vote for the free-shit party. I can't think of a faster way to lose my vote.

Man up, Ryan. You little faggot. Either you put your money where your mouth is, or you're a worthless sack of shit.

So tired of this kabuki. The Republicans have never been this lost. I wonder if they know how pathetic they look. At least the Democrats are expected to be the party of fiscal cluelessness. What's the excuse for these supposed "fiscal conservatives" on their knees with their mouths full of banker cock?

...I'm also done not being crass. This all warrants utter rudeness.

Thu, 01/17/2013 - 16:43 | 3163739 slaughterer
slaughterer's picture

Paul Ryan has a large self-managed stock portfolio.   

Thu, 01/17/2013 - 16:55 | 3163776 economics9698
economics9698's picture

The GOP is trying hard for that black vote.

Thu, 01/17/2013 - 17:53 | 3164003 FEDbuster
FEDbuster's picture

If they cave on this and the gun ban, they are done.

Thu, 01/17/2013 - 19:51 | 3164452 odatruf
odatruf's picture

There might be another play in mind.  The optics of holding firm on the debt issue are not as good as holding firm on the CR and sequester, so by pushing the limit issue back, they may be looking for that advantage.  See http://keithhennessey.com/2013/01/14/raise-and-cut/ for more on this.

 

Thu, 01/17/2013 - 20:17 | 3164561 CompassionateFascist
CompassionateFascist's picture

The Republicrats are a minor appendage of the Democrats. Kept alive simply to neo-con Whites/Rights into voting for a system that is liquidating them. Both run by the same Zionist Directorate. 

Fri, 01/18/2013 - 01:23 | 3165327 TBT or not TBT
TBT or not TBT's picture

OR

Thu, 01/17/2013 - 16:46 | 3163745 jwoop66
jwoop66's picture

They are truly sorry ass bitches.   The republic is over.

Thu, 01/17/2013 - 16:56 | 3163786 EscapingProgress
EscapingProgress's picture

The Republic died in 1913. Where have you been?

Thu, 01/17/2013 - 17:06 | 3163832 RafterManFMJ
RafterManFMJ's picture

Took a mortal wound in 1913 and has been bleeding fiat ever sense...I think we're seeing hearing the death rattle now...

Thu, 01/17/2013 - 18:40 | 3164198 jwoop66
jwoop66's picture

takin a dump or doin my nails

Thu, 01/17/2013 - 16:51 | 3163769 the not so migh...
the not so mighty maximiza's picture

Paul Ryan is a bailout girly man

Thu, 01/17/2013 - 17:09 | 3163841 Joe moneybags
Joe moneybags's picture

Tyler, you slightly misquoted Rep. Paul Ryan.  What he actually said, according the his closest aides, was "We House Republicans will bend over and spread our cheeks, and take all the buggering that Obama wishes to dish out."

Thu, 01/17/2013 - 16:55 | 3163777 DR
DR's picture

Republicans are in a tough situation. The 3 biggest fiscal expenditures are Defense, SS and Medicare. If they propose to CURRENTLY cut SS/Medicare they risk alienating one of their core constituents so all they can do is call for cuts in the far future which has no affect on today's budget. Defense spending and "no new taxes" are core Republican beliefs so this is off the table.

The Republicans have no real solution so this explains Ryan's apathetic look.

Thu, 01/17/2013 - 17:05 | 3163826 Spastica Rex
Spastica Rex's picture

Pathetic.

FIFY

Thu, 01/17/2013 - 19:13 | 3164310 tango
tango's picture

No, I think the GOP (like Ron Paul) finally realize there is nothing that will stop this trainwreck and they are simply going along for the ride.   Like after WWII the main job of the PM was handling Britain's demise as a world power, the best we can hope for is to manage the catastrophe as good as we can.   I don't believe for a moment, Ryan or anyone else has the slightest confidence that we can restore fiscal sanity.  Especially after the voters have repeatedly shown that they want the status quo.

Thu, 01/17/2013 - 17:05 | 3163824 ebworthen
ebworthen's picture

Couldn't have said it better.

And the clueless GOP is talking of being more "inclusive" and folding on illegal immigration, right to life, and small government.

Why vote at all, but why especially would I vote for "we''re going to raise your taxes, reduce your liberties, AND cut already taxed entitlements."???

Thu, 01/17/2013 - 18:09 | 3164068 oldman
oldman's picture

@Popo

With complete respect,

how can you even consider continuing to vote?

I truly do not comprehend how it is possible for u s citizens to continue playing a game that is so horribly stacked against them. It seems to me that real patriots would REFUSE to vote for candidates of the fascist machine---                     om

Fri, 01/18/2013 - 10:47 | 3166005 tango
tango's picture

The ONLY thing that will change the status quo is if folks like yourself run for Congress and make changes.  I can't figure out how folks think thaings will change by not being involved   Our rep (Marsha Blackburn) consistently votes the "rught" way - against Sandy, for offsets, against the New Years "deal", yes to  auditing the FED, etc - but she recently admitted she was "tired" of fighting useless battles. 

Thu, 01/17/2013 - 19:33 | 3164378 gatorengineer
gatorengineer's picture

thank you couldnt have possibly said it better

Thu, 01/17/2013 - 16:36 | 3163709 tom a taxpayer
tom a taxpayer's picture

Get out the headlamps and spelunking gear because the RINOs are going caving.

Thu, 01/17/2013 - 16:38 | 3163715 TruthInSunshine
TruthInSunshine's picture

From "Fiscal Cliffing" to "Cave Diving" in the spate of a few short weeks!

Thu, 01/17/2013 - 18:24 | 3164106 CrashisOptimistic
CrashisOptimistic's picture

A short extension is wise.

The real deadline has never been the debt ceiling, which will be raised without question.

The real deadline is the Continuing Resolution that authorizes spending.  Obama is right that spending already spent must be paid for.  What he doesn't say is that March 31, authority to spend more stops, and it is THAT deadline that matters.  That's where the cuts go into law, regardless of debt ceiling.

Thu, 01/17/2013 - 19:35 | 3164383 gatorengineer
gatorengineer's picture

why sure after caving in fifty times in a row they are going to grow some balls then.....

You must live in Colorado or Washington state........and be higher than a kite.

 

Thu, 01/17/2013 - 17:11 | 3163853 Zap Powerz
Zap Powerz's picture

Allow me to be as clear as I can be.

If you have any faith at all in EITHER party, you are either fucking retarded or a sociopath.

Thu, 01/17/2013 - 17:32 | 3163930 azzhatter
azzhatter's picture

Why not just stand in a circle and jackoff

Thu, 01/17/2013 - 22:45 | 3164017 FEDbuster
FEDbuster's picture

How do you know they're not?

Fri, 01/18/2013 - 01:25 | 3165331 TBT or not TBT
TBT or not TBT's picture

Might not be wise to be standing right through to the end, gravity and all

Thu, 01/17/2013 - 16:28 | 3163656 Dr. Richard Head
Dr. Richard Head's picture

The Repubs also allowed the debt ceiling to be raised last time with some automatic imaginary cuts to take place down the road.  Bunch of bullshit artists, just like the Demoncraps.

Thu, 01/17/2013 - 16:52 | 3163770 pods
pods's picture

No, last time they came up with these rules.  Like iron clad.  A sequester.  Automatic spending CUTS.  

 

Like crack addicts with rent money in hand.

That is what this place has turned into.

 

Come on Ryan, why not tell us exactly WHY the debt ceiling has to be raised?

Mr. Policy Wonk, why not give us a little lesson in exponents?

pods

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