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White House Responds To Boehner: "Congress Needs To Pass A Clean Debt Limit Increase"

Tyler Durden's picture




 

Below is the full White House statement released in reaction to House Republican proposal to extend debt limit by 6 weeks, to Nov. 22.

"The President has made clear that he will not pay a ransom for Congress doing its job and paying our bills. It is better for economic certainty for Congress to take the threat of default off the table for as long as possible, which is why we support the Senate Democrats’ efforts to raise the debt limit for a year with no extraneous political strings attached. The President also believes that the Republican Leadership in the House should allow for an up or down vote on the clean continuing resolution passed by the Senate that would pass with a bipartisan majority to reopen the government. Once Republicans in Congress act to remove the threat of default and end this harmful government shutdown, the President will be willing to negotiate on a broader budget agreement to create jobs, grow the economy, and put our fiscal house in order.  While we are willing to look at any proposal Congress puts forward to end these manufactured crises, we will not allow a faction of the Republicans in the House to hold the economy hostage to its extraneous and extreme political demands.  Congress needs to pass a clean debt limit increase and a funding bill to reopen the government."

So... Obama agrees to a six-week can kicking? The answer is not exactly clear:

 

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Thu, 10/10/2013 - 12:11 | 4041746 Zer0head
Zer0head's picture

and to think this was all about Obamacare

Thu, 10/10/2013 - 12:11 | 4041762 hyperfocus
hyperfocus's picture

Boehner kill....

Thu, 10/10/2013 - 12:14 | 4041774 TeamDepends
TeamDepends's picture

Hey Barry, how 'bout you pass a clean e-verify?

Thu, 10/10/2013 - 12:17 | 4041782 FL_Conservative
FL_Conservative's picture

Hey Obama: I have 2 words for you and they're not "happy birthday".

Thu, 10/10/2013 - 12:22 | 4041803 NotApplicable
NotApplicable's picture

At this point, all I want to see is the entire House out on the Capitol steps singing Depeche Mode's "Clean."

http://www.youtube.com/watch?v=5XizT3qIAnQ

Thu, 10/10/2013 - 12:31 | 4041837 viahj
viahj's picture

they should stand in front of the Fed Reserve and sing "Master and Servant"

Thu, 10/10/2013 - 12:39 | 4041865 knukles
knukles's picture

Look at it this way.

If there debt limit's not raised and 'Mericuh de-fualts, then 'Humerica won't be able to spend 50% of each dollr spent before because approximately 50% is borrowed money.

Which is good.
Then the Dems don't get their fucking social waste and the Repubs don't get their MIC, etc., etc., etc.

Now, that'll be when the real talks start.

See, nobody's serious about managing the debt and country's future until they start talking about cutting expenditures in half.

Seriously.
Till then I don't wanna hear a fuckling thing.

Thu, 10/10/2013 - 13:14 | 4041972 Leopold B. Scotch
Leopold B. Scotch's picture

Andy by "clean", we mean "Blank Check"

Thu, 10/10/2013 - 14:59 | 4042371 DaveyJones
DaveyJones's picture

yeah I thought "clean" and "debt limit increase" were sorta oxymorons 

Mr. Orwell, I tip my hat

Thu, 10/10/2013 - 13:01 | 4041944 Charles Bishop ...
Charles Bishop Weyland's picture

At GUNPOINT. on Pay-per-view!

 "I'd buy THAT for a dollar!"

Thu, 10/10/2013 - 12:39 | 4041864 serndipity
serndipity's picture

The Affordable Care Act has successfully survived more than 50 Congressional votes, a Supreme Court challege and a Presidentil election.

Some folks just don't get it.

Thu, 10/10/2013 - 12:42 | 4041872 knukles
knukles's picture

Yeah... and best I can tell, the majority of American folks, the plebiscite, the voter, the peasantry, the people supposed to be represented by their representatives, don't want the fucking thing.

So who gives a fuck about whether its survived a buncha votes, etc?
The people don't fucking want it.

QED
EOC

Thu, 10/10/2013 - 13:18 | 4041980 Leopold B. Scotch
Leopold B. Scotch's picture

Funny is that the supreme court passed the forced purchase of insurance as a "tax", which is not what Congress passed it as.

Funny?  I meant tragic.  We used to interpret the Constitution by giving the benefit of the doubt to "individual liberty"

Now days, the benefit of doubt goes to government authority over individuals, aka -- the benefit of the doubt goes to authoritarianism, even if laudered soft-tyrany of democracy.

Fri, 10/11/2013 - 00:28 | 4043965 mkhs
mkhs's picture

So if the supremes essentially rewrote the bill, it must be resubmitted to congress?  Congress voted for a penalty, not a tax.  The current law isn't the one passed.

 

serenDIPity: Some folks just don't get it.

And some folks can't get it, but maybe a nationwide strike when all folks won't get it.

Thu, 10/10/2013 - 13:02 | 4041893 TeamDepends
TeamDepends's picture

Some folks just don't get it because it is nearly impossible to enroll in, even if you are STUPID enough to want to.

Thu, 10/10/2013 - 13:19 | 4041984 Leopold B. Scotch
Leopold B. Scotch's picture

Bonner finally said something smart today: We're going to penalize people for not enrolling in a program with a broken $650 million website that won't let them enroll.

Thu, 10/10/2013 - 12:58 | 4041930 PivotalTrades
PivotalTrades's picture

You should revisit some of the laws concerning slavery that were enacted. Just because some scumbags gain control dosent make the laws good right or just.

Thu, 10/10/2013 - 13:02 | 4041941 LawsofPhysics
LawsofPhysics's picture

Yes, like precisely how it will be paid for?

Tick tock motherfucker...

http://www.marketwatch.com/investing/bond/10_year

 

Thu, 10/10/2013 - 13:44 | 4042113 SDShack
SDShack's picture

I could say that the 2nd Amendment has survived hundreds of congressional votes, and been affirmed as an individual right by the Supreme Court, but that doesn't stop Dumbcrats from trying to gut it. Some folks just don't get it.

The same thing could be said for 4th amendment, but that hasn't stopped congress from gutting it with the Patriot Act, or the NSA, IRS and other federal agencies from trolling your phone conversations, emails, blogs, plus using your political affiliations against you. 

All revolutions begin with a spark.

Thu, 10/10/2013 - 15:42 | 4042535 drendebe10
drendebe10's picture

Based on your response, it is then okay for arbritary exemptions to be made for  favored corporations and unions while the congress has voted themselves an exemption while the poor sap sheeple, peasants and serfs are subjected to this atrocious "we have to pass it to find out what's in it".  Did you know that if you need renal dialysis and you are 65, you won't get it.  If you 80 and you need, cancer chemotheraphy, you won't get it.  ANd this is just the tip of the iceberg where nonphysicians, non health care personnel decide what care you receive.  Hmmmmmmmm.....   doesn't sound too good to me.  But according to you, some folks just don't get it..... good luck with that one...

Thu, 10/10/2013 - 12:10 | 4041748 LawsofPhysics
LawsofPhysics's picture

Show me the collateral, tick tock motherfuckers.

Thu, 10/10/2013 - 12:12 | 4041754 Grande Tetons
Grande Tetons's picture

Barry needs a year. 

Watch for more theatrics. 

Thu, 10/10/2013 - 12:14 | 4041777 Zer0head
Zer0head's picture

he needs a year cause that is just before the mid terms

effing brilliant

Thu, 10/10/2013 - 15:59 | 4042597 NidStyles
NidStyles's picture

I am hoping I'm completely out of the country by that time. I don't think I could take another election cycle without wanting ot strangle someone.

Thu, 10/10/2013 - 12:11 | 4041760 One And Only
One And Only's picture

This isn't going to work

Thu, 10/10/2013 - 12:13 | 4041764 bagehot99
bagehot99's picture

Shorter Obama: Give me everything I want, and a blank check, and then we can negotiate.

I don't think he understands the three branches of government and how they relate to one another.

Thu, 10/10/2013 - 12:15 | 4041770 McMolotov
McMolotov's picture

But Professor Barry was a Constitutional scholar...

Thu, 10/10/2013 - 12:19 | 4041795 e_goldstein
e_goldstein's picture

That information must have been lost in the choom haze.

Thu, 10/10/2013 - 12:47 | 4041889 knukles
knukles's picture

The only people who believe he is a constitutional scholar are the people falling for the propaganda.
He was never a "Scholar",  professor, on staff at any university....
In fact all his records remain sealed and all we have is made up shit.

Thu, 10/10/2013 - 12:55 | 4041920 Tinky
Tinky's picture

Because of your over-the-top and inaccurate claims, I will, for perhaps the very first time, actually defend Obama. I'm not going to claim that he is a "scholar", but to suggest that he wasn't a professor, or that his records have been sealed, is ludicrous.

From the University of Chicago:

UC Law School statement: The Law School has received many media requests about Barack Obama, especially about his status as "Senior Lecturer." From 1992 until his election to the U.S. Senate in 2004, Barack Obama served as a professor in the Law School. He was a Lecturer from 1992 to 1996. He was a Senior Lecturer from 1996 to 2004, during which time he taught three courses per year. Senior Lecturers are considered to be members of the Law School faculty and are regarded as professors, although not full-time or tenure-track. The title of Senior Lecturer is distinct from the title of Lecturer, which signifies adjunct status. Like Obama, each of the Law School’s Senior Lecturers have high-demand careers in politics or public service, which prevent full-time teaching. Several times during his 12 years as a professor in the Law School, Obama was invited to join the faculty in a full-time tenure-track position, but he declined.

Thu, 10/10/2013 - 16:02 | 4042608 NidStyles
NidStyles's picture

Sure he did.... The man doesn't even speak as a person whom is educated. He speaks like a well coached hood rat.

Thu, 10/10/2013 - 14:29 | 4042263 e_goldstein
e_goldstein's picture

Knukles, you're a wise clown.

Thu, 10/10/2013 - 15:45 | 4042537 Zymurguy
Zymurguy's picture

Right on Knuckles... until I see that shit I'll continue to believe this guy is nothing but a propped up dope smoking statist neanderthal from Kenya.

Thu, 10/10/2013 - 12:14 | 4041772 Zer0head
Zer0head's picture

he doesn't need to when he controls all 3, which he does

Thu, 10/10/2013 - 12:16 | 4041783 PivotalTrades
PivotalTrades's picture

Exactly; Also why is he not being held responsible for signing and passing a budget that increased spending beyond the debt limit? 

Thu, 10/10/2013 - 12:24 | 4041810 Zer0head
Zer0head's picture

it's a cult of personality

we have seen this before in history

Thu, 10/10/2013 - 12:48 | 4041894 knukles
knukles's picture

The Kahns, Hitler, Mao, Pol Pot, Roosevelt

Impeach Earl Warren.
Those Guys Had the Right Idea

Thu, 10/10/2013 - 12:16 | 4041778 JR
JR's picture

There is no sign the Republicans are going to cave. Maybe Boehner is playing that old poker game: you fold, you fold, you fold, you fold – and, then, you trap.

Thu, 10/10/2013 - 12:26 | 4041816 Zer0head
Zer0head's picture

actually there is a sign

if Boehner's countenance has an orange hue

it means he is about to cave

Thu, 10/10/2013 - 12:35 | 4041848 Grande Tetons
Grande Tetons's picture

Kinda like Groundhog day.

Thu, 10/10/2013 - 12:19 | 4041785 A Lunatic
A Lunatic's picture

Obama sure as hell doesn't seem to mind holding Taxpayers ransom though does he........

Thu, 10/10/2013 - 12:21 | 4041799 denverdolomte
denverdolomte's picture

At this point I'd honestly take Kate Upton as President. Least then we could switch from watching a Kabuki Theater to a more entertaining type of theater. 

 

I guess this is what you get when you let men who have accomplished nothing in life, literally, run your country. 

Thu, 10/10/2013 - 12:29 | 4041830 therover
therover's picture

"At this point I'd honestly take Kate Upton" (fixed)

Thu, 10/10/2013 - 12:38 | 4041853 denverdolomte
denverdolomte's picture

Thank you haha.

Thu, 10/10/2013 - 12:19 | 4041800 Peter Pan
Peter Pan's picture

A black, a Muslim, an illegal immigrant, a lawyer and a communist walk into a bar. The barman says: "What can I get you Mr President?"

Thu, 10/10/2013 - 12:20 | 4041801 madbraz
madbraz's picture

Go to hell, white house.  these are not our bills, get a life and live within your means.  if you spent like a drunken sailor the last 10 years, stop it.

Thu, 10/10/2013 - 12:20 | 4041802 adr
adr's picture

I didn't know the government shutdown had so much effect on Netflix and Priceline.

You would think the idea of hundreds of thousands of workers going back to work would be bearish for those stocks. But no, BULLISH TO ALMOST 10% UP IN ONE MORNING.

Neflix really is above $300 again, Priceline above $1000. The world has lost its damn mind.

Well I guess all those people that held on to Netflix stock when they bought it at $250 two years ago are finally happy. If they didn't sell after the plunge.

This insanity makes 1999 look normal.

Thu, 10/10/2013 - 12:26 | 4041807 Dr. Venkman
Dr. Venkman's picture

I think Obama scuttles this mini-extension. A six-week extension contingent on budget discussions does not fit into this design. . ."Once Republicans in Congress act to remove the threat of default and end this harmful government shutdown, the President will be willing to negotiate on a broader budget agreement"

He will say its meaningless, solves nothing, more drama, extreme posturing, allows Tea Party Extremist to wreck havoc over the holidays.

I wouldn't be celebrating this ramp up too hard. Of course I am usually wrong.

EDIT: on the plus side, another day like today and Stolper's $/JPY call will be stopped out.

Thu, 10/10/2013 - 12:26 | 4041822 Grande Tetons
Grande Tetons's picture

Of course I am usually wrong.

Except when you are right. 

I think you hit the nail on the PINHEAD. 

Thu, 10/10/2013 - 12:27 | 4041831 Zer0head
Zer0head's picture

you may be correct

congressional staffers who are permitted to make trades on inside information would very much like a bit more whipsaw action before this comes to an end

Thu, 10/10/2013 - 12:31 | 4041843 Grande Tetons
Grande Tetons's picture

Staffers........ and his Banker owners that he had over for lunch a while back. 

 

What a hopeless fucking train wreck we are witnessing. 

Thu, 10/10/2013 - 12:23 | 4041813 Neo
Neo's picture

Bonehead Blinks

No reason for the Dems to go along with this. Now they will ratchet up the demands and Reid will demand a clean CR for a Debt Ceiling increase of year and tril+

And Obamacare = 404

Lucy walks away with the football, laughing her head off.

Thu, 10/10/2013 - 12:25 | 4041815 grapeape
grapeape's picture

with booner going limp, yellen hitting print, buy the fucking dip.

Thu, 10/10/2013 - 12:30 | 4041833 Zer0head
Zer0head's picture

no worry about 4 hours with the orange dude

Thu, 10/10/2013 - 12:25 | 4041823 lolmao500
lolmao500's picture

So... Obama agrees to a six-week can kicking?

No?

Thu, 10/10/2013 - 12:30 | 4041839 Fogey
Fogey's picture

 

Senate democrats got the repubs back because their are of the same clan pushing hypocritical manners on the sane man.

Insanity is a projection by the rude fools to destroy humanities perfection.

Original f_cking sin is a construction, civilized civilisations obstruction.

Selling your soul to the lords of leveraged debt, you got to use some force to get back your respect

peace! 

Thu, 10/10/2013 - 12:36 | 4041857 involuntarilybirthed
involuntarilybirthed's picture

Boehner:  Using debt limit to highlight our debt problems which even the Dems know is now a threat to national security.  Free advertising. 

Obama:  Lost and pretending he has found leadership with is mantra of "no negotiations".  The press has his back. 

ObamaCare:  A monster caged in software wanting to break out.  Even the Dems hope it stays caged until 2014 elections. 

Distractions are covering distractions and it's lost on which one started it?  Glitches, for 3 more years.

Thu, 10/10/2013 - 12:54 | 4041922 AE911Truth
AE911Truth's picture

So the debt limit is no longer measured in Dollars, but in weeks or years?

Is that because this time around, one trillion Dollars would not last six months?

Thu, 10/10/2013 - 12:57 | 4041927 grekko
grekko's picture

To paraphrase Colonel Saito: Let me remind you of General Yamashita's motto: Taxpayers, be happy in your work. Dismissed!

Thu, 10/10/2013 - 13:48 | 4042135 eatthebanksters
eatthebanksters's picture

If Barry won't meet halfway then why submit to tyranny...burn the place down and him cement his place in history not only as the first black president but also the worst ever...maybe people will a actally research who they vote for on the future.

Thu, 10/10/2013 - 13:50 | 4042148 polo007
polo007's picture

http://www.treasury.gov/initiatives/pages/debtlimit.aspx

Debt Limit

The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments. The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past.

Failing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations – an unprecedented event in American history. That would precipitate another financial crisis and threaten the jobs and savings of everyday Americans – putting the United States right back in a deep economic hole, just as the country is recovering from the recent recession.

Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. In the coming weeks, Congress must act to increase the debt limit. Congressional leaders in both parties have recognized that this is necessary. Recently, however, a number of myths about this issue have begun to surface.

Thu, 10/10/2013 - 13:55 | 4042165 Diamond Jim
Diamond Jim's picture

no need for ceiling levitations...Stop the damn spending and live within a budget..........

Thu, 10/10/2013 - 14:10 | 4042198 ShrNfr
ShrNfr's picture

Reid & Boehner are about to take the fall for anything bad. Let me eat my waffle.

Thu, 10/10/2013 - 14:23 | 4042252 Cult of Criminality
Cult of Criminality's picture

Hmm guess the NSA did not like my comments as they will not post here.

Thu, 10/10/2013 - 14:49 | 4042342 Bow Tie
Bow Tie's picture

why have a debt ceiling in the first place? come on obama, just cancel it altogether. free money!!!

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