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Republicans Considering "Temporary" Debt-Ceiling Increase
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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The republicans are probably deciding on next quarters concessions right now. They decided to cave on this debt ceiling last quarter.
Temporary...kinda like a pregnancy.
We're being herded by a bunch of liars!
http://www.zerohedge.com/news/2013-01-16/here-comes-sequester-and-another-1-cut-2013-gdp
"In 2011, when the debt limit was increased by $2.1 trillion in return for $2.1 trillion in spending cuts over ten years." see above.
So, THEY promised us $210 billion spending cuts in 2012 and 013. Anyone seen that?
Response: AGUY, While there are no budget cuts for 2013, you'll be happy to know that Washington did take action. They have chosen to raise your taxes for 2013. while this will not decrease the Budget deficit it will avoid the deficit from getting larger as out lays for Social Security,Medicare and Wealthfare. are rising. You should also be happy that your health insurance premiums will be increasing by about 20% in 2013 and another 40% by 2016 for ACA (O'bamacare).
We have again entered the political information torture chamber. Prepare to take on the 10,000 mile stare.
More hidden inflation
http://news.yahoo.com/blogs/abc-blogs/subway-foot-longs-coming-short-191...
Subway customers are whipping out their measuring tapes after Internet postings that claim a short-shrifting of the worldwide chain's famous footlong sub, putting the Milford, Conn.-based company in the hot seat.
According to the Post, four out of seven "Five-dollar Footlongs" purchased at Subways in Manhattan, Brooklyn and Queens, measured only 11 or 11.5 inches. A local franchise owner told the paper the chain has cut the portions of their cold-cut meats by 25 percent recently and raised the cost of food to individual store owners.
"Subway" - the Montgomery Ward of sandwich franchise chains, or is it "Herbalife"?
My adult teenage son came downstairs this morning and said this Subway news made him so mad he had trouble getting to sleep. I told him if that's the case, he better not read what I read on ZeroHedge.
Of course, I jest - I make him come here all of the time. I'm not in the sheeple raising biz. My sons know what's going on - which more of their peers did.
'temporary'. Just like the temporary suppression of paper metals. Together with China's switch to gold and the trillion dollar platinum coin, Geithners early retirement, we can assume all is seasonably adjusted.
TAX & FUCKING SPEND
MORE FEE SHIT
Aarragh!
We're being herded by a bunch of liars!
http://www.zerohedge.com/news/2013-01-16/here-comes-sequester-and-another-1-cut-2013-gdp
"In 2011, when the debt limit was increased by $2.1 trillion in return for $2.1 trillion in spending cuts over ten years." see above.
So, THEY promised us $210 billion spending cuts in 2012 and 013. Anyone seen that?
Response: AGUY, While there are no budget cuts for 2013, you'll be happy to know that Washington did take action. They have chosen to raise your taxes for 2013. while this will not decrease the Budget deficit it will avoid the deficit from getting larger as out lays for Social Security,Medicare and Wealthfare. are rising. You should also be happy that your health insurance premiums will be increasing by about 20% in 2013 and another 40% by 2016 for ACA (O'bamacare).
Fucking establishment hacks.
the title should have been "republicans emasculated"
The pathetic republicans are Obama's helpless little bitches.
Tap the down arrow if you think a single fucking dollar will be cut from federal spending in the next four years.
"we have to pass this debt increase before we can lower it"
Paul Pelosi
Hurricane SANDY. SANDY hook. Sandy is short for Cassandra. Cassandra is a greek mythology figure who epitomizes tragedy. Tradegy is a drama that brings catharsis. So a drama we will get here folks.
Oh...and someone send Paul Ryan's bitch ass to Mali to fight with the French. We need to secure old Mansa Musa's gold before the French try to take it all. Better get with the hype. Germany wants there gold and French are making moves...lol
The proposition that they will not default on their interest payments is a load of hogwash should they start reducing expenditure in line with revenue. The simple fact is that total mayhem will erupt when some 40-50% of government expenditure ceases to be spent in what is the most fraudulent economy of the last 100 years.
Remember that they want/need to stick to their Global Domination (NWO) game. To do this, the USD must retain its GRC (Global Reserve Currency) status, as they can 'finance' (e-print) oodles of fiat money and inflate their way out of the debt. Foreign and domestic.
The foreign debt holders (mostly #1 Japan and #2 China) can't be too happy about their debt losing value. So both -- especially the Chinese -- need to swap FRNs for real and strategic assets.
Sarc ON/ Meanwhile -- "back at the ranch" -- any and all distractions & sideshows (a la Calligula's Games & Bread) will do as nice diversions for the ADHD (Attention-Deficit, Hyperactive-Disorder) Sheeple.
With that backdrop... heck, let's print more than ever: We need to replace the 60 y.o. B52's with Stealth Bombers, so they penetrate... say, Iran or China. \Sarc OFF.
Two parties, same government. Adding to the debt is no big deal. 20T here we come.
Thanks Ben and Barry.
Mmmm, the sheeps favorite flavor, Ben and Barry's Double Debt Rocky Road to Hell
We're being herded by a bunch of liars!
http://www.zerohedge.com/news/2013-01-16/here-comes-sequester-and-another-1-cut-2013-gdp
"In 2011, when the debt limit was increased by $2.1 trillion in return for $2.1 trillion in spending cuts over ten years." see above.
So, THEY promised us $210 billion spending cuts in 2012 and 013. Anyone seen that?
Response: AGUY, While there are no budget cuts for 2013, you'll be happy to know that Washington did take action. They have chosen to raise your taxes for 2013. while this will not decrease the Budget deficit it will avoid the deficit from getting larger as out lays for Social Security,Medicare and Wealthfare. are rising. You should also be happy that your health insurance premiums will be increasing by about 20% in 2013 and another 40% by 2016 for ACA (O'bamacare).
Here's 10cents, now make me laugh.
Oh, Mr. Ryan, don't play so hard.
ryan is ballerina in an oversized tutu.....his job is to cave while pretending to do something about spending......he is complete clown.
Ok Boehner there is no reason to cry about not being Obama's whipping pad.
http://assets0.ordienetworks.com/images/user_photos/1170849/boehnercryin...
At this point it's only about who can do a better job at buying the votes. Forget it it's over.
Bohner, Ryan, you pussies......
Grow a pair, you pathetic douche bags!! Disband the party, reform it to be named the Constitutionalist Party... Ron Paul as head... Go after the corruption, Nationalize all the big 5 (or 10) banks, jail Dimon, Blankfien and any other toxic 'roids... Deport all the illegals, hit the Chinese with massive tariffs and when they complain, default on ALL their bonds... now... what's next?
LOL
When Obamacare kicks in....real deficits and I mean really big deficits begin. If you think $1.3T is big...as they say down on the farm "...bro..you ain't seen nutin yet."
these states united will starve the commons and 3/8 of the middling class before it defaults on it's guarantee'. it can however suspend/end such things as foreign aide, military r/d and studies in varmint putang.
The republicans are putty in Obummers hands, and he knows it.
Not in one single comment was cutting defense spending even talked about. (and i'm not talking drastic cuts but reductions in the long term and getting rid of the F-35 JSF and closing German/Japanese bases)You know, that part of the budget that costs close to a trillion a year. Yet article after article and comment after comment goes after unemployment and welfare, SS and Medicare. If you are all serious about spending cuts, why isn't defense on the table. Oh yeah, it supports millions of jobs in Republican districts so we cant cut that. And don't any of you have a problem with the way House Republicans have an almost undemocratic and unassialable hold on the House; I would feel the same if it were Ds. 100s of billions need to be cut from defense, the Ed Dept should be eliminated, and the DEA to as well as the whole drug war and the mass incarceration of non-violent offenders. WE NEED a new party. One that has no ties to special interests only the special interest which is the will of the people. That is balanced by the Bill of Rights. And Judges, they are as political s they come. The debt ceiling is a farce and of course it will be raised.
You have fallen for the same trap as many others by concentrating on the least offensive portions of the budget. Defense spending is about 17%, Social spending/checks of all types runs about 68%. Concentrating on Defense is akin to the current craze of concentrating on discretionary. Or Agriculture, Energy Educationk HUD, etc...they are not the major problem and don't display the growth potential we see in social spending. So reduce overseas committments, scale down military hardware but don't think cutting 10% of 17% of the budget will be any solution. (The vast majority of defense spending is for salaries, retirement, taxes, health care and food.)
Abd personally, I'm glad there is at least one arm of Congress that even while operating at half speed prevents the absurdities that would fly if Congress was totally controlled by Dems.
When I read that word "temporary", I read it to mean "conditional", based upon Obama and Senate Democrats dealing with House Republicans in good faith. If the negotiations go nowhere, the debt ceiling is revoked. It will be interesting to see how it develops with the Non-negotiation President!