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Boehner To Obama: "No Budget, No Pay"

Tyler Durden's picture




 

And the game continues as Speaker Boehner appears to be kicking the can across the corridor to the Senate (and implicitly the Democrats) as he quite specifically advises them that with no budget, there is no talk of debt-ceiling extensions. The principle is simple, he notes, "no budget, no pay." As Dow Jones reports, the 'compromise' deal is that the House will propose a three-month extension of the debt-ceiling in exchange for a budget (i.e. spending cuts from the Senate) - which of course is all but impossible given the years of inability to pass a budget anyway. Check to Obama (though we know the response)...

  • *U.S. HOUSE WILL PASS 3-MONTH DEBT LIMIT INCREASE NEXT WEEK

Following are excerpts of House Speaker John Boehner’s (R-OH) closing remarks as at the House Republican members retreat today, as prepared:

“Before there is any long-term debt limit increase, a budget should be passed that cuts spending. The Democratic-controlled Senate has failed to pass a budget for four years.  That is a shameful run that needs to end, this year.

 

“We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government’s spending problem.  The principle is simple: no budget, no pay. ...

 

“A long-term increase in the debt limit that is not preceded by meaningful and responsible reductions in government spending might avert a default, but it would also invite a downgrade of our nation’s credit that damages our economy, hurts families and small businesses, and destroys jobs.”

Via Dow Jones:

  • DJN - DJ U.S. HOUSE TO SEEK THREE-MONTH EXTENSION OF DEBT CEILING
  • DJN - DJ U.S. REP CANTOR: IF HOUSE AND SENATE DON'T PASS BUDGET IN 3 MONTHS LAWMAKERS WON'T GET PAID
 

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Fri, 01/18/2013 - 13:40 | 3166655 Cognitive Dissonance
Cognitive Dissonance's picture

Blind man's bluff?

<Or the blind leading the blind?>

Fri, 01/18/2013 - 13:47 | 3166671 francis_sawyer
Fri, 01/18/2013 - 13:57 | 3166716 Temporalist
Temporalist's picture

No ticket, no laundry!

Fri, 01/18/2013 - 14:05 | 3166749 trav777
trav777's picture

who cares? Just do whatever anyway

Fri, 01/18/2013 - 14:13 | 3166787 pods
pods's picture

They are merely fighting over the wheel of the Titanic, after it hit the iceberg.

pods

Fri, 01/18/2013 - 15:38 | 3167187 LawsofPhysics
LawsofPhysics's picture

It's their job to manage the country and budget.  If I don't do my job, I don't get paid.  Why should my representation be any different?

Fri, 01/18/2013 - 15:59 | 3167249 Manthong
Manthong's picture

Now there’s an idea..

If the White House and Senate do not produce a budget as required by law, the House should stop the paychecks for everyone in the Senate, White House and their respective departments.

Fri, 01/18/2013 - 13:45 | 3166672 Lohn Jocke
Lohn Jocke's picture

Debt is good. As long as our money is sound. Our money is sound as  long as we believe that debt is good. Our debt is good as long as our money is sound. Our money is sound as long as...........

Fri, 01/18/2013 - 13:46 | 3166676 Snakeeyes
Snakeeyes's picture

Beohner will surrender like the French at Dien Bien Phu as soon as the MSM demonize him. Same with McConnell.

Spending is out of control as is debt. We ARE beyond the point of no return.

http://confoundedinterest.wordpress.com/2013/01/12/debt-star-federal-deb...

Fri, 01/18/2013 - 14:17 | 3166811 azzhatter
azzhatter's picture

Was he crying during this announcement?

Fri, 01/18/2013 - 15:24 | 3167130 Nick Jihad
Nick Jihad's picture

Bad analogy. The French surrendered at Dien Bien Phu only after a long and tenacious defense that inflicted huge casualties on the North Vietnamese.

Fri, 01/18/2013 - 23:01 | 3168278 Buck Johnson
Buck Johnson's picture

Your exactly right, we are at a point.  The point we are at is the fact that we have finally reached the end of our credit limit and now we have to adjust to austerity.  But politically it's suicide for all of them and that is why they are throwing it back and forth.  You have a president who have finally stood up to the republicans but at the wrong time.  And you have a republican congress who think that Obama will buckle.  Then you have a group in congress who wants it to all fall apart because that way they can build it up the way they want after the collapse. 

We have the perfect storm waiting for us.

Fri, 01/18/2013 - 13:44 | 3166665 Lohn Jocke
Lohn Jocke's picture

"Not raising the debt ceiling is like a family not paying their credit card bills to save money," - Stupid Sheep, Raising the debt ceiling is like a family taking out a third credit card to pay off their credit card debt.

Fri, 01/18/2013 - 13:50 | 3166693 Sauk Leader
Sauk Leader's picture

Worse, it is like taking out a third credit card to make the minimum interest payments on the other cards, then go buy a new TV and upgrade your cable package.

Fri, 01/18/2013 - 14:01 | 3166730 dark pools of soros
dark pools of soros's picture

or go straight to the strip club and invest in boob bucks

Fri, 01/18/2013 - 14:11 | 3166779 MachoMan
MachoMan's picture

bullshit.  An investment in tits would be vastly better than what the funny money typically buys...

[not that I condone any of the theft otherwise referred to as taxation or inflation, but at least titties aren't ethereal...  it's the closest thing to sound money any of this fiat will see]

Fri, 01/18/2013 - 15:26 | 3167139 SilverIsKing
SilverIsKing's picture

But quality matters and they do depreciate over time.

Perhaps one can think of it as deflation.

Fri, 01/18/2013 - 14:16 | 3166802 azzhatter
azzhatter's picture

Dumb fuck Obama, we don't pay our bills now

Fri, 01/18/2013 - 13:44 | 3166666 Debeachesand Je...
Debeachesand Jerseyshores's picture

It's the "no balls leading no balls".

 

 

 

 

Fri, 01/18/2013 - 13:45 | 3166670 Doña K
Doña K's picture

Yes! But it may backfire and give an excuse for Obama to pull a Chavez on the US.

Fri, 01/18/2013 - 13:49 | 3166691 mr1963
mr1963's picture

About f-in time. Pres and senate have not done a meaningful budget in years.

Fri, 01/18/2013 - 15:36 | 3167180 mortem-tyrannus
mortem-tyrannus's picture

This is Speaker Boehner's chance to nut up.

Hope springs eternal....

Fri, 01/18/2013 - 13:42 | 3166657 HD
HD's picture

Big deal. Millionaires won't get their allowance from taxpayers for a couple weeks. NO ONE goes to congress for the paycheck - that's not how they make their money.

Fri, 01/18/2013 - 13:51 | 3166701 Winston Churchill
Winston Churchill's picture

If it included no benes or insider trading it would work.

Fri, 01/18/2013 - 14:00 | 3166727 HD
HD's picture

 Indeed. But if you can't lie, cheat and steal why be in Congress?

If the party stopped they would all immediately retire to "spend more time with family". Not that that would be a bad thing...

Fri, 01/18/2013 - 14:45 | 3166950 ATM
ATM's picture

If you can't lie, steal and cheat you wouldn't BE in Congress!

Fri, 01/18/2013 - 21:23 | 3168099 Raymond K Hessel
Raymond K Hessel's picture

They front run the market and come out millionaires. 

 

I want to be a Congressman... or atleast an aide.  Same difference in terms of insider trading exemption.

Fri, 01/18/2013 - 13:42 | 3166658 kliguy38
kliguy38's picture

Boner will fold like a cheap suit when his masters tell him to........same puppeteers as O's...all Kabuki theater for the peeps

Fri, 01/18/2013 - 13:43 | 3166661 dick cheneys ghost
dick cheneys ghost's picture

These whores dont care if they dont get paid. K Street pimps will take care of them....What a joke

Fri, 01/18/2013 - 13:44 | 3166664 busted by the b...
busted by the bailout's picture

Wow, did he grow a set?

He will cry before it's over.

Fri, 01/18/2013 - 13:47 | 3166669 mayhem_korner
mayhem_korner's picture

 

 

So the tough talking (sarc) Boehner has attempted to draw a line in the sand, and uses the threat of...wait for it...a "downgrade" as his stick (the pay thing is a patsy, we all know it).  Any remaining wonder as to why the U.S. is spiraling down the toilet bowl has now been eradicated.

Fri, 01/18/2013 - 13:46 | 3166673 SmallerGovNow2
SmallerGovNow2's picture

bunch of f'ing clowns, every last one of them ...

Fri, 01/18/2013 - 13:46 | 3166674 Unprepared
Unprepared's picture
No Budget, No Pay;

 

No Budget, No Pay; No Budget, No Pay;


No Budget, No Pay.


'Cause - 'cause - 'cause I remember when we used to sit
In a government yard in Washington,
Oba - obaserving the 'ypocrites - yeah! -
Mingle with the good people we meet, yeah!
Good friends we have, oh, good friends we have lost
Along the way, yeah!
In this great future, you can't forget your boss;
So dry your tears, I seh. Yeah!

 

Fri, 01/18/2013 - 13:48 | 3166685 Unprepared
Unprepared's picture

No Budget, No Pay;
No Budget, No Pay. Eh, yeah!
A little Bohner, don't shed no tears:
No Budget, No Pay. Eh!

Said - said - said I remember when we used to sit
In the government yard in Washington, yeah!
And then Georgie would make the fire lights,
I seh, logwood burnin' through the nights, yeah!
Then we would cook cornmeal porridge, say,
Of which I'll share with you, yeah!
My feet is my only carriage
And so I've got to push on through.
Oh, while I'm gone,
Everything's gonna be all right!
Everything's gonna be all right!
Everything's gonna be all right, yeah!
Everything's gonna be all right!
Everything's gonna be all right-a!
Everything's gonna be all right!
Everything's gonna be all right, yeah!
Everything's gonna be all right!

Fri, 01/18/2013 - 13:45 | 3166675 Dr. Engali
Dr. Engali's picture

Did he cry before or after he said that?

Fri, 01/18/2013 - 13:48 | 3166682 mayhem_korner
mayhem_korner's picture

 

 

Yes.

Fri, 01/18/2013 - 14:11 | 3166781 kralizec
kralizec's picture

Did the carrot-stain fade?

Fri, 01/18/2013 - 13:46 | 3166679 Xibalba
Xibalba's picture

rally!  oh wait. 

Fri, 01/18/2013 - 13:47 | 3166681 semperfi
semperfi's picture

They get paid?  Who pays them? 

Fri, 01/18/2013 - 13:48 | 3166688 mayhem_korner
mayhem_korner's picture

 

 

These days, Ben does.

Fri, 01/18/2013 - 13:59 | 3166724 Seasmoke
Seasmoke's picture

but who signs Bens check ???

Fri, 01/18/2013 - 14:08 | 3166766 XitSam
XitSam's picture

They do.

Fri, 01/18/2013 - 14:09 | 3166768 Doña K
Doña K's picture

The largest HP printer in the world. The problem is that ink supply is geting tight lately.

Fri, 01/18/2013 - 15:31 | 3167153 ItchyBeard
ItchyBeard's picture

They use squid ink

Fri, 01/18/2013 - 19:21 | 3167832 Bunga Bunga
Bunga Bunga's picture

They can print ink.

Fri, 01/18/2013 - 13:49 | 3166694 Canadian Dirtlump
Canadian Dirtlump's picture

if these guys aren't careful they may end up getting depressed and committing suicide by shooting themselves in the back of the head 3 times with the wrong hand.

Fri, 01/18/2013 - 13:56 | 3166704 RSBriggs
RSBriggs's picture

Yeah, after driving themselves to a secluded location while rolled up in a carpet...  Just ask Vincent....

Or falling asleep and getting hit by a train after tieing themselves to some railroad tracks just as a joke.

Or, for the really clever, shooting themselves in the chest 9 times with a .45, without touching the gun.  Now THAT'S tough.

Accidentally falling off a boat in the middle of the ocean and not being missed for a day...  Thats another of my favorites....

Fri, 01/18/2013 - 15:30 | 3167152 TerminalDebt
TerminalDebt's picture

drowning in 6 inches of water in their bathtub like simmons, that too

Fri, 01/18/2013 - 14:10 | 3166773 XitSam
XitSam's picture

There's a correct hand to shoot yourself in the back of the head?

Fri, 01/18/2013 - 14:17 | 3166807 RSBriggs
RSBriggs's picture

No, but if you're left handed, for example, you normally wouldn't shoot a gun with your off (right) hand.

Fri, 01/18/2013 - 15:31 | 3167158 TerminalDebt
TerminalDebt's picture

you probably get tired after the first 2 shots and change hands

Fri, 01/18/2013 - 13:50 | 3166699 RSBriggs
RSBriggs's picture

That works for me.  Shut it down and send them all home. 

Fri, 01/18/2013 - 13:52 | 3166703 100pcDredge
100pcDredge's picture

No whát? Budger? Whats thát?

Anyway: no nothing, no ehm... something!

But.

What about 'imaginary pay' - in general?

How's that?

Fri, 01/18/2013 - 13:52 | 3166705 youngman
youngman's picture

Great idea I think....but it should be no staff pay either...no insurance...no cafeteria..no barber shop..no health club...all their bennies...and any cost overruns should come out of their pensions

Fri, 01/18/2013 - 13:53 | 3166707 surf0766
surf0766's picture

Whatever it takes to keep my 61 year old baby boomer golfing asshole neighbor happy is what should be done.

Fri, 01/18/2013 - 15:32 | 3167163 TerminalDebt
TerminalDebt's picture

free viagra then?

Fri, 01/18/2013 - 13:54 | 3166710 jubber
jubber's picture

The boy who cried Wolf.... market rallying

Fri, 01/18/2013 - 13:56 | 3166713 Racer
Racer's picture

Don't they get a load of backhanders and pay is so very little in comparison

Fri, 01/18/2013 - 13:58 | 3166714 Dr. Engali
Dr. Engali's picture

Ok Mr. Boner let me set you straight. Ben in printing more in 21 days than you took in from your last revenue increase. The time for budgets is long past. The reality is your only option is to spend until we collapse. Everything else is just hot air.

Fri, 01/18/2013 - 13:57 | 3166717 pods
pods's picture

So wait, this time Boner is really serious?

He is like a beaten dog, going back time and again.

Same thing will happen when some type of gun control comes up.  He will really hold the line, get whacked around in the press and cave.

He is the whipping boy of the theater.

As Boortz used to say:  "Somebody has to make the fries."

pods

Fri, 01/18/2013 - 13:57 | 3166718 Seasmoke
Seasmoke's picture

No Pay, No Pussy

Fri, 01/18/2013 - 14:05 | 3166747 exi1ed0ne
exi1ed0ne's picture

This is Congress.  No Pay, No Mangina.

Fri, 01/18/2013 - 21:55 | 3168163 Curt W
Curt W's picture

That is bad

Sat, 01/19/2013 - 11:49 | 3168751 Papasmurf
Papasmurf's picture

Seasmoke


Vote up!

0
Vote down!

0

No Pay, No Pussy

A Boehner is useless w/o pussy.

Fri, 01/18/2013 - 13:59 | 3166723 shovelhead
shovelhead's picture

Does Boehner realize he is messing with the space-time continuum if he doesn't accept 'The dog ate my homework' excuse?

Fri, 01/18/2013 - 13:59 | 3166726 DavidC
DavidC's picture

Oh God, please, make it end...

DavidC

Fri, 01/18/2013 - 14:01 | 3166733 loveyajimbo
loveyajimbo's picture

Hope Boner has the nuts to hang in there this time... but doubt it... We need a change of GOP leadership... Rubio, Thune, maybe Issa... Christie is out, he was seen on this knees in front of Obunga last week...

Fri, 01/18/2013 - 14:11 | 3166782 pods
pods's picture

In case you haven't been paying attention the GOP is now playing the part of the Washington Generals.

They ain't supposed to win.

pods

Fri, 01/18/2013 - 14:12 | 3166785 kralizec
kralizec's picture

And they don't need any help, sit back and enjoy the show.

Fri, 01/18/2013 - 14:01 | 3166734 Poetic injustice
Poetic injustice's picture

"IF HOUSE AND SENATE DON'T PASS BUDGET IN 3 MONTHS LAWMAKERS WON'T GET PAID"

Sounds like a good deal!

Fri, 01/18/2013 - 14:48 | 3166966 cxl9
cxl9's picture

Not getting paid after 4 years of not doing their jobs? Sounds about right for government.

Fri, 01/18/2013 - 14:07 | 3166751 SmoothCoolSmoke
SmoothCoolSmoke's picture

Hey, let's get Obama/Boner to do something everybody would like:

Change the date of Martin Luther King Jr. Day to the Monday after 

the Super Bowl.

You can view and sign the petition here:

http://wh.gov/m56R

Pretty Good idea IMO

Fri, 01/18/2013 - 14:06 | 3166752 Dr. Engali
Dr. Engali's picture

If ever there was a shining example of the emasculated American male Boner is it.

Fri, 01/18/2013 - 14:14 | 3166791 kralizec
kralizec's picture

It's OK, he will be pushed to the back of the litter box after the 2014 elections...why vote for liberal-lite when full value can be had?

Fri, 01/18/2013 - 14:14 | 3166792 pods
pods's picture

A silver eagle says he sits when he pees!

pods

Fri, 01/18/2013 - 14:07 | 3166753 john_connor
john_connor's picture

Bullish

Fri, 01/18/2013 - 14:07 | 3166756 905ozs
905ozs's picture

This is a ridiculous debate ZH

Rothschild Inc own, dictate to both puppets, it is a facade, we all non- sheeple know this

A lovely mirage
Why is ZH SUPPORTING THIS?

Fri, 01/18/2013 - 14:21 | 3166828 IridiumRebel
IridiumRebel's picture

reporting and supporting are different

Fri, 01/18/2013 - 14:07 | 3166761 buzzsaw99
buzzsaw99's picture

Is this Boehner's first year in the House? How long has CONgreff gone without a budget now? Boehner = pathetic.

Fri, 01/18/2013 - 14:08 | 3166765 kaa1016
kaa1016's picture

The trade is short VXX via puts due to a flattening of the VIX curve going out 3 months. Wow what a drop in vol.

Fri, 01/18/2013 - 14:12 | 3166780 hedgeless_horseman
hedgeless_horseman's picture

 

 

Nah, the trade is to scalp the "must keep AAPL over $500" algos for fractions of a cent millions of times.

Fri, 01/18/2013 - 14:11 | 3166772 Super Broccoli
Super Broccoli's picture

what's the point ? republicans got no more nuts than democrats, they're going to raise the debt ceiling anyway. Pay with american's mastercard and we'll see later ! you never know, maybe we'll find a quadrillion dollars worth of gold somewhere in the US ? maybe jesus will come back ? maybe aliens will buy salt water for petrol ?

Fri, 01/18/2013 - 14:14 | 3166790 GoBadgers
GoBadgers's picture

If you're gonna cave, might as well do it now. The theatrics make you look pitiful.

Fri, 01/18/2013 - 14:18 | 3166814 IridiumRebel
IridiumRebel's picture

http://www.bloomberg.com/news/2013-01-18/house-weighing-short-term-u-s-d...

 

 

"The last time the Democratic-led Senate adopted a budget was in April 2009. The Senate and House are supposed to pass budget resolutions early each year to set a spending framework, though there is no enforcement mechanism. Without a budget resolution, appropriations bills allocate money for the federal government.

Leaders said the tactic of short-term debt-limit increases was used in the 1980s during the presidencies of Ronald Reagan and George H.W. Bush as a prelude to broader agreements on spending cuts.

“No one is talking about default, no one wants to default,” South Carolina Republican Mick Mulvaney, who voted against the 2011 debt-ceiling deal, said in an interview today with Bloomberg Television. There is a “lot of support growing” among the rank and file for a short-term debt limit, he said.

The comments by Mulvaney and Ryan reflected the new political realities following President Barack Obama’s re-election that are spurring House Republicans to reassess their goals."

Fri, 01/18/2013 - 14:20 | 3166820 SmoothCoolSmoke
SmoothCoolSmoke's picture

Wow.  Seems a bit early to use this move just to ramp the SP.

Fri, 01/18/2013 - 14:23 | 3166841 RSBriggs
RSBriggs's picture

Must. Get. Apple.  Above.  $500.  By.  Market. Close.

Fri, 01/18/2013 - 14:24 | 3166845 jim249
jim249's picture

The republicans are putty on Obamma's hands and he knows it. What a bunch of two faced wimps.

Fri, 01/18/2013 - 14:24 | 3166851 905ozs
905ozs's picture

Boy & girls, there is no silver left...but
http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif

It is a farce.
Duck
Look after your family.

Fri, 01/18/2013 - 14:27 | 3166868 yogibear
yogibear's picture

Buckling Boehner will give in. The democrats know the republicans will appear to fight publically but will agree. We have a 1 party system.

Higher and higher deficits, more spending and can kicking. 

 

Fri, 01/18/2013 - 15:06 | 3167062 905ozs
905ozs's picture

A simple truth.

The Fed, BoE, BIS…Rothschild  et al etc are privately owned & utterly ruthless. Collectively, they have been the masterfully controlled the system, fundamentally, Our very existence from birth to death has become indentured to Them.

Our very survival is dependent on their benevolent wishes. But, They aren’t benevolent, they are evil & their plan for Our planet is nothing less than enslavement.

They are called Rothschid Inc & short of a coordinated global revolution, We are powerless.

Water, Food, Shelter, Silver & LIFE are at their whim.
My research on these creatures over 20 odd years has led me to the conclusion;
Rothschild are the executive & Regina, Elite are the Field Marshals.

The Generals (deliver the fodder of pseudosecurity, failed politicians & perpetual war…and entertainment) industrio/political class
the Lieutenants , your Military functionaries, bureaurcrat class.

DUCK & see to your family’s welfare

Fri, 01/18/2013 - 15:09 | 3167071 rsnoble
rsnoble's picture

Excuse me but aren't we on a 2 month extension now?

Probably just buying more time to get as many guns as possible before they fuck everyone. LOL.

Fri, 01/18/2013 - 15:15 | 3167097 FoeHammer
FoeHammer's picture

End of week gold smash.

Fri, 01/18/2013 - 15:24 | 3167132 905ozs
905ozs's picture

:)
with all it's challenges in South Africa
Glad I won't be living in the Euro or USA in the next 3 years

Fri, 01/18/2013 - 15:53 | 3167226 Falconsixone
Falconsixone's picture

I've got a buget all written up.

Give me a call.

No problem.

Happy to do it.

 

Fri, 01/18/2013 - 15:56 | 3167240 Falconsixone
Falconsixone's picture

Oh! I also went ahead and put together your debt ceiling.

Your 40 floors above it.

Give me a call.

Fri, 01/18/2013 - 19:43 | 3167878 robnume
robnume's picture

Like these fuckin' crooks are gonna let themselves go without pay. In fact, even though tens of millions of U.S. citizens are going without food or medicine these days, CONgress is sure to vote themselves yet another pay rise. Someone really oughta take 'em to task. They need to pay, not be paid.

Fri, 01/18/2013 - 22:02 | 3168177 Curt W
Curt W's picture

It was me.

I threw this Idea to the winds several times in the last year, on Yahoo news and cnn money.

Only my version was a little tougher.

New law :  No elected Politician shall be paid unless the budget is balanced.

Sat, 01/19/2013 - 08:21 | 3168597 Disenchanted
Disenchanted's picture

Don't fret for the Congress Critters and their lost paychecks, they'd still be getting plenty of cash(or renumerations in other forms) under the table from the bankster/MIC conglomerates and their lobbyists.

Sat, 01/19/2013 - 11:43 | 3168744 Papasmurf
Papasmurf's picture

Who needs pay when you can position your bets, then create a crisis?

Do NOT follow this link or you will be banned from the site!