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White House Postpones Meeting With Congressional Leaders, GOP Says "Nothing Firm"
Headlines just hitting:
- *MEETING BETWEEN OBAMA, CONGRESSIONAL LEADERS POSTPONED
- *WHITE HOUSE MEETING POSTPONED TO ALLOW FOR FURTHER TALKS
- *WHITE HOUSE STATEMENT SAYS DELAY TO GIVE MORE TIME FOR TALKS
Seems like there is no deal for now then... and sure enough that hope premium in stocks is fading.
Via AP,
The White House says a meeting between Obama and congressional leaders has been postponed to give Senate leaders more time to resolve a standoff over the nation's debt and the partial government shutdown.
Obama was scheduled to meet Monday afternoon at the White House with the Democratic and Republican leaders in the House and Senate. A new day or time for the meeting wasn't announced.
The delay comes as all sides are expressing optimism that they are getting closer to an agreement to end the two-week partial shutdown and avert a potential default on the U.S. debt.
The last meeting between Obama and the congressional leaders was Oct. 2.
More Senate GOP aide: WH meeting, talks still being finalized, "nothing solid for several hours, if then."
— Robert Costa (@robertcostaNRO) October 14, 2013
Senate GOP aide: "Full conf mtg later this afternoon to share all the details of what McConnell and Reid are discussing, nothing's firm."
— Robert Costa (@robertcostaNRO) October 14, 2013
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It is not the last minute yet...more shit for a couple of more days. Same result...but more shit.
Soooooooooooo surprising!!!!
FUCKING AWESOME, DUDE!
by the way, will EBT cards cover shit sandwiches for the middle class?
and where's that free fucking health care we were promised several years ago... that's right, it was gonna be free...
squeezing legs together to keep nuts from exploding... must have toga party
they will fix it ... they always do. think about it, all they are talking about is to increase the limit in their credit card... who in their right mind wouldnt do it ... right? WRONG
meanwhile, count on Goldman to keep the headlight straight to (this market) deer's eyes...
shameless manipulation and misdirection of the herd ... slaughtering time ...
Wait, I've seen this episode before. The car goes right to the edge of the cliff, with two wheels over the edge. Then they go to a commercial for Massengil or something. When they come back, they get the blonde chick to crawl through the back of the car and out the side window. Then there is a breeze and the car goes crashing down to the valley below, with our babe saved by the hero, who she dutifully hugs and cries into his shoulder. She has no idea what happened. She must have been drugged and that is why she couldn't react quickly enough to keep the car off the cliff. Unfortunately the secret papers went up in flames with the car and they have to hope that the photos they took will develop well enough to know all the secrets.
Damn reruns.
An hour early calling the hope rally and an hour late calling the bad news but I will say I'm impressed Tyler.
There are blue pills for that
Some people are important because of what they build and contribute. Others try to be important because of what they destroy or prevent.
So now the ES can rally up to 1800.
What middle class, America still have some of it?
'Stocks fading on it'....yea right past new all-tine highs.
Even BI beats you on this, Tylers. ;-)
ya, they need more time do varify the deal, my fucking ass.
its all such fucking bullshit, they cant just say that there is no deal, they have to spin it into positive story in any way they can.
After the close of course
The market is EXTRA contrived today. In fact, a new contrived record, I think.
You want contrivance...
Based on US Treasury cumulative blended interest rates through recent history (bills, notes, bonds) - here is the interest we would pay now with our current $17 trillion debt based on those rates...
1980 - 15%...$2 T 550 B
1990 - 7.8%...$1 T 326 B
2000 - 6.4%...$1 T 88 B
2007 - 4.8%...$816 B
2013 - 2%...$350 B actual...actual 2013 tax revenue $2.7 T
Who would like to guess what we will pay on our $20 T in debt in 2015??? Guesses for interest interest rate??? Here's a hint, Japan currently pays 0.66% on 10yr debt w/ a blended interest rate about the same 0.6%>>> It's not just the Japanese school girls that set all the fashion trends...it's the Japanese CB that is the leader to the bottom
Or another way to think about it, any increase in economic activity (say a 3.5% jump in GDP) would increase economic activity by $560 B but the increase in taxes would be @ 20% of that or $110 B...the paralell rising interest rates to say 3.5% would raise interest costs to $600 B...a net deficit increase of $140 B...get it, the game is all but over for anyone w/ 7th grade math. One step forward economically would create two steps backward budgetarily.
While increased economic activity would increase upward pressure on interest rates it is nowhere close to a 1:1 increase. Nowhere close. So while increasing interest rates are a scary proposition given the size of te debt, the math you did means nothing in terms of the increase in interest payments given an increase in economic growth.
~ This is a test. Excuse me but the WalMart article won't load the comments starting at HH's comment. IE8 problem?
Next headline: US sells Puerto Rico to China for $2T plus debt...debt limit crisis averted, gov't re-opened, all gov't workers issued back-pay plus "hardship" bonuses.
The Chinese want something of value. Try Alaska.
Why would China want to buy an island full of free loaders deep in debt? Things are bought and sold at market prices, which means you could pick up Puerto Rico for $1 if you assume the debt -- not just the $70 billion publically traded toilet paper, but the welfare and entitlements, for which PR is BY FAR the biggest recient per capita.
Well, at the very least, they saved the market (and their stock portfolios) from a 200-point down day.
On the other hand, they keep on taking away any impetus to get "something" done.
Such a dilemma.
Just throwing this out there...never claimed to be mensa material yet, but I read Krugman so...fingers crossed. In any event:
ISN'T this attempt by the GOP THE ONLY way to, realistically, STOP OBOYCARE? If they cave, OCare goes through, all but guaranteeing US demise-along with debt. All of this lining up with Agenda 21 etc. with the Hitlery running wild in '16.
This is, right now, the only hope. If GOP caves (which they will) and Ocare goes live 100%, then it's lights out (barring action of the people---a whole other topic).
Thank you. Back to Paul "The Genuis" K Man.
Oh, brother.
Most of my "blue flag" freinds don't even believe what Krugman says anymore.
Talk about a lame dick...
Quote: "DELAY TO GIVE MORE TIME FOR TALKS"
Correct me if I'm wrong, but usually when there is a deadline and something is DELAYED there is LESS time , no?
Ace Ventura: "If Im not back in 5 minutes.....just wait longer!"
We need another meeting!!!!
Yes, an urgent meeting to discuss our meeting schedules and how we'll trade on that schedule!
The more and more Congress is drug into this kind of crisis management the more power is unwittingly given to the executive office. It's time to tell the dictator wannabe here is the deal take it or leave it. We were elected just like you were and if you don't like it well too bad this is how our democracy has functioned for over 200 years and some forty odd presidents.
I agree, but Congress has been volunteering power for as long as they have been open. They like not having to make decisions, ability to pass the buck, and their 90% relection rate. Place on top of that, the pension plan and the situation is exactly how congress wants it.
If they give up any more power they will be largely irrelevant in the whole budget process. Look at it right now 535 member of the House and Senate combined and it is being decided by four people. Five if you include the dictator wannabe. Imagine how at least many of those members of Congress feel knowing their opinions or votes don't matter one damn bit. Their constituents don't have a voice. I know not all of them signed up for this type of legislative action.
The other thing I might mention is that their oath of office to uphold the constitution is in question because of all of this nonsense. An equal balance of power between all branches of government is essential and that is not what we have right now.
There is perception. You can thank the education system for cramming it down our throats. We believe congress is relavent because we read it in a book. In reality, Congress has not held up there end of checks-n-balances for quite some time.
White House refuses to even give lip service to Boner, claims he will not "rise to the challenge".
Boner, for his part, insists his position remains "firm and rigid", and that he is the most important member in the budgetary negociations.
Just wait until boner claims to be firm but flexible.
I just pray to God that I never see him explode on the House floor.
That could be a very sticky situation.
Yes. clearly the market is terrified. the /ES has plummeted from 1704.50 to 1703.50...oh the horror....
I think you guys were a little premature announcing that fade.
and two minutes later: /ES hits a new HOD.
And that's how it starts. Closer and closer to the edge with each "crisis" until we go over. When is anybody's guess. But if not now, the chance for next time rises. This is not theatre. A sea change is going on.
The whole red versus blue thing is farce. But, this has a different flavor. +1 on your comment. The game is shifting. Support is breaking down.
Market reaction?
Kevin's got our back. Time for some early booze, blow and hookers.
Well that news shot us to the highs of the day. *Shrug*
The gubermint is closed barry, why don't you go back to the white house and put up those barrycades yourself, you pathetic little puppet.
In Kentucky, Senate Minorilty Leader Mitch McConnell is known as Mr. Health Insurance…because of his Number One contributor, Humana.
Contributions from David A. Jones Sr., founder of health insurance giant Humana Inc., have been coming into the McConnell campaigns for decades. So when Jones asked for $10 million in federal funds for a Louisville, Ky., parks project that he was personally overseeing, McConnell delivered $38 million.
One wonders how enthusiastic McConnell would be in opposing Obamacare when Humana is so closely cooperating with the Obamacare rollout. Ed Green tells us that “Humana Inc. president and CEO Bruce Broussard has said Louisville-based Humana will participate in health insurance exchanges in 14 states, including Kentucky.”
The insurance and well-being company also “has struck a deal to work with pharmacy giant CVS to educate individuals and their families about health care coverage options resulting from the federal Patient Protection and Affordable Care Act.”
Perhaps McConnell’s position on health care helps when Harry Reid selects him to negotiate with blocking those difficult Republicans in the House. After all, McConnell already personally voted for Obamacare with his vote to shutdown debate on Obamacare, allowing the Democrats to win with a simple majority.
A tough negotiator with the Democrats, of course, would have sent Senator Mike Lee to the White House instead of pro-Obamacare advocate, Senator Susan Collins.
McConnell also is involved in efforts to oppose Tea Party principals in his state. The Karl Rove super PAC goliath, American Crossroads, has another potential super PAC weapon to assist McConnell in his upcoming primary fight, called the Conservative Victory Project, specifically to help some candidates such as McConnell to fend off conservative Republican challengers, such as Tea Party candidates.
McConnell’s last Senate election cost $21 million, much of that money coming from out-of-state sources.
McConnell needs to be hung upside down and left that way.
Don't call him by his name. Refer to him as "Ole Mitch." It doesn't mitigate his ass-hattery, but it makes you feel better.
What a joke this "economy" has become. Neither the Fed nor our elected representatives know how to actually grow the economy, so the Fed debases the currency and artificially pumps the markets and housing prices... and they all declare victory.
FUBAR to hell.
They know damn well how to grow an economy. Unfortunately, they won't implement those necessary steps because to do so renders them mostly irrelevant.
We can agree to disagree. The POTUS apparently knows nothing about running the economy.
If they really wanted to kill Obamacare, they would give the POTUS exactly what he wants, then work on making him enforce it 100% with no exceptions.
Its well known in all quarters Obamacare will need a lot of changes. Even the President acknowledges as much, and they plan on offering up a number of bills to affect those changes. If Republicans vote against said bills then it will be Republicans fault for not allowing the fixes and the media will report it that way.
It's far too big and unwieldy to be fixed IMO, not to mention what tends to happen when an industry is subsidized on the consumer end of things.
Yo! It's the democrats fault too. Everybody voted for the thing, without reading it.
Someone with more credibility than myself should speak to the Truth revealed in 3rd grade civics lessons.
CONgress makes the rules, Executive carries out the rules.
What will it take for people to see that the pres. is just the designated FALL-GUY?
White House postpones meeting = even the liberals can't come to agreement.
bob pissani is such a fucking douchebag.
he was just saying how '' if earning estimates for the 4th quarter get close to 0, i am going to be yelling a lot as the market will take notice''.
has this douchebag been living in a fucking underground cave the past 5 years or so? earnings have not mattered for years, earnings can be negative and the dow and s&p would rally, and i am not being sarcastic.
Is the House GOP so whipped that they'll just eat whatever turd McConnell drops on their doorstep? I guess so
Nothing firm. With Boehner. Would the WH describe these talks as flaccid?
I think they just want to see what quadruple tops look like
Nothing Firm... I could have told you that!
Signed,
Wookie
Republican National Committee (RNC) chairman Reince Priebus told Breitbart News on Monday (today) that House Republicans should hold the line in the ongoing fiscal fights with Senate Democrats and President Barack Obama.
“Just as I stood firm in supporting the efforts of Ted Cruz two weeks ago, I am proud House Republicans continue to fight for what the American people want,” Priebus said in an email.
Priebus’ call on House Republicans for unity against a grand bargain deal that could undercut the party comes on the heels of the RNC running robocalls against Democrats like Democratic National Committee chairwoman Rep. Debbie Wasserman Schultz, Senate Majority Leader Harry Reid, Sen. Mark Begich (D-AK), Sen. Mary Landrieu (D-LA), and Sen. Kay Hagan (D-NC).
The robocalls specifically target Reid, Begich, Landrieu, and Hagan on how they have refused to fight for veterans benefits during the partial government shutdown. The House passed a bill that would have provided benefits for U.S. military veterans on a bipartisan vote, but the Democrat-controlled Senate has refused to take a vote on the bill. …
http://www.breitbart.com/Big-Government/2013/10/14/Exclusive-Reince-Priebus-to-House-Republicans-Hold-the-line-in-fiscal-fights
Is it Blame Canada Day? Why were the Bruins and Wings playing at noon. Anyways the Senate should take the day off.
Maybe because it's Thanksgiving Day Holiday here?
It's all "bricksmanship" on Obama's part. The more "bricks" he throws, the more the GOP leaders get bruised.
"Let him who is without blame, cast the first brick". Clearly Obama is either w/o 'blame' or is Teflon-coated.