Boehner Explains Why He Is About To Kick Can, Fold - Live Webcast

Tyler Durden's picture

The Speaker of the House has a plan - apparently - that enables the debt-limit "can" to be kicked 6-weeks down the line to Nov 22nd in a "clean" bill that appears dirtied by the lack of a CR for the government shutdown (though including a broader budget talks process). Democrats are already pushing for an end-2014 debt-ceiling extension that McConnell says "wil not fly." We look forward to hearing from Boehner on how this is not a "fold" and how the rank-and-file will agree to this... see you in six-weeks... (and while stocks are incapable of discounting anything that far out, T-Bills are starting to price in that reality).

But:. U.S. HOUSE REPUBLICAN LAWMAKERS CONCERNED THAT CLEAN DEBT LIMIT INCREASE WOULD NOT FORCE OBAMA TO NEGOTIATE-SENIOR REPUBLICAN AIDE

And: HOUSE REPUBLICAN LEADERS PLAN TO PRESENT PROPOSED SHORT-TERM DEBT LIMIT HIKE TO WHITE HOUSE ON THURSDAY; WANT TO SEE WHAT OBAMA OFFERS IN RETURN-SENIOR REPUBLICAN LAWMAKER

As Bloomberg notes,

President Barack Obama said he would accept a short-term increase in the debt limit without policy conditions and that he would negotiate on broader fiscal and health-care policy after the debt limit is raised and the shutdown ends. Many Republicans want to tie the debt-limit increase to party priorities such as cuts in entitlement programs. It’s unclear whether rank-and-file members will agree to the leadership’s proposal.

 

Reid must gain support from at least six Republicans. One way to do that would be to promise votes on Republican-backed amendments that Democrats could defeat, the aide said. A second vote with a 60-vote threshold would be required. Republican leaders have been meeting with party members to talk about ideas.

 

Representative Paul Ryan, a Wisconsin Republican and chairman of the House Budget Committee, advocates starting broader budget negotiations with Democrats. “Within the Republican caucus, there’s no agreement, and this is the challenge we’ve had all along,” Representative Chris Van Hollen of Maryland, the top Democrat on the House Budget Committee, said today on MSNBC’s “Morning Joe” program. Van Hollen said lawmakers “shouldn’t be tying raising the debt ceiling to any specific demand.” Still, he said, “we welcome the opportunity to have a discussion on the budget.” 

 

 


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