With A Final 285-144 Vote, Mission "Raise The Debt Ceiling" Is Accomplished: See You All Again In February

Tyler Durden's picture




 

And so, in the proverbial 11th hour, or technically 10th hour and 10th minute before the midnight of the X-Date, the House gets the necessary 216 votes to pass the Senate bill to raise the debt ceiling, and in a final 285-144 tally, in which 87 Republicans voted yea to 144 GOP noes as all 198 Democrats vote yea, has agreed to restore funding. 

Next up: the BLS random number generator starts cranking again and informing everyone in just how sorry a state the economy finds itself, which of course is bullish for stocks because it means that the taper is indefinitely delayed, potentially until June 2014. Also next up, as the emergency Treasury measures are netted out against the new debt limit, it means that once the new Daily Treasury Statement hits, the total US Federal debt will be just at, or over $17 trillion. Rejoice.

Finally - see you all again here in three months. In the meantime the interim status quo is as follows:

  • The government will be reopened through January 16
  • The debt ceiling has been lifted through February 7, while the Treasury is allowed to use its assortment of emergency measures to delay running out of funds, which means the next true X-Date will hit sometime in April
  • The House and Senate budget conference must real a deal by December 13, but it may very well not achieve anything.
  • Government workers get back pay for 16 days, and tomorrow return from a 2 + week vacation.
  • The only thing that was actually "achieved" as a result of the government shutdown is to have income verification for Obamacare beneficiaries: something which should have been embedded in the ACA from the beginning.

More from The Hill:

During debate on the bill, Republicans focused on the tasks ahead, particularly the upcoming budget conference. House Appropriations Committee Chairman Hal Rogers (R-Ky.) said he expects the two sides will be able to find a deal on 2014 spending levels, and is hoping for entitlement and tax reform.

 

"I'm optimistic that once this resolution has passed, the House and the Senate will come together in a budget conference to work out our broad fiscal and budgetary challenges," he said in comments on the floor.

 

One immediate test for negotiators is finding a way to reconcile Democratic demands for new tax revenues, and GOP opposition to any new taxes. For several months now, House Republicans have refused to meet with Democrats on the budget because of these Democratic demands.

 

House Minority Leader Nancy Pelosi (D-Calif.) offered a glimpse into this upcoming fight late Wednesday, saying on the House floor that Democrats will fight to increase spending above the 2013 sequester levels.

 

"As we know, this number is too low," she said. "As even the chairman of the committee has said, it's an unrealistic and ill-conceived number, and must be brought to an end."

 

The final deal was negotiated by Senate Republican Leader Mitch McConnell (Ky.), who began an intense round of negotiations with Majority Leader Harry Reid (D-Nev.) at the end of last week after House Republicans proposed legislation to raise the debt ceiling while leaving the government shuttered.

 

Senate Republicans failed to win a delay of the law's medical device tax, which many wanted, but claimed a sliver of victory by keeping current spending levels locked in place for three more months.

Final roll call of who voted what coming up momentarily.

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Wed, 10/16/2013 - 22:21 | 4063576 Rentier
Rentier's picture

Bunch of fools and tools in DC...

Wed, 10/16/2013 - 22:23 | 4063582 max2205
max2205's picture

...missed it by that much....

Wed, 10/16/2013 - 22:25 | 4063597 YBNguy
YBNguy's picture

And the kabuki theatre goes into Act III

Wed, 10/16/2013 - 22:35 | 4063648 Handyman
Handyman's picture

Golf clap....

Wed, 10/16/2013 - 23:07 | 4063770 auntiesocial
auntiesocial's picture

wow! now MSM can air 5 hour specials on how the debt was tamed part 13! 

Thu, 10/17/2013 - 01:00 | 4063971 Stackers
Stackers's picture

Like there was any doubt this would happen the night before "X-day" ?

Thu, 10/17/2013 - 03:41 | 4064094 Hobbleknee
Hobbleknee's picture

Does this mean Obamacare works now?

Thu, 10/17/2013 - 04:28 | 4064129 Squid-puppets a...
Squid-puppets a-go-go's picture

" while the Treasury is allowed to use its assortment of emergency measures to delay running out of funds, which means the next true X-Date will hit sometime in April"

...er, they already tapped out the emergency measures since may this year, yea?

or does that mean that they have opened up a fresh batch of accounts set aside for future obligations to squander?

Thu, 10/17/2013 - 07:32 | 4064295 kralizec
kralizec's picture

Finally, the GOP can die.

Everybody grab a shovel and toss on a big scoup of dirt!

Wed, 10/16/2013 - 22:35 | 4063655 Pool Shark
Pool Shark's picture

 

 

Hey Boehner!

DIAF!!!

 

Wed, 10/16/2013 - 22:44 | 4063661 BlackChicken
BlackChicken's picture

Attack of the Killer Tomatoes was better than this farce.

What a sick joke this whole thing was.

Oh, and BTW, it was all planned months ago:
http://directorblue.blogspot.com/2013/10/boom-this-shutdown-was-orchestr...

Wed, 10/16/2013 - 22:25 | 4063588 SilverIsKing
SilverIsKing's picture

What was all the fuss about? The question to Bonfucker should be why didn't you just agree from day 1? What did he accomplish? What specifically does that douche bag stand for?

Wed, 10/16/2013 - 23:51 | 4063874 Wahooo
Wahooo's picture

He stands for the death of the two-party system and the rise of a third party.

Wed, 10/16/2013 - 23:04 | 4063764 Seer
Seer's picture

They've still got jobs and guaranteed retirements (for as long as we're willing to tolerate it); AND, it's most likely that they're increasing their wealth.

Based on the notion of trying to survive for as long as you can, given that we have a system that uses "money" to pick winners and losers, it seems that they're hardly fools or tools (well, obviously, they DO serve others, in which case they could be thought of as tools).

Wed, 10/16/2013 - 22:22 | 4063580 MrSprottJr
MrSprottJr's picture

What a bunch of goofs

Wed, 10/16/2013 - 22:23 | 4063581 LetThemEatRand
LetThemEatRand's picture

That play fucking sucked.  Not even a little bit entertaining and the ending was obvious.   And the actors were really bad.

Wed, 10/16/2013 - 22:26 | 4063599 NoDebt
NoDebt's picture

Yeah.  Like watching your kids' cartoons.  Lots of meaningless action leading to an all-too-obvious conclusion.

Wed, 10/16/2013 - 22:35 | 4063649 CaptainObvious
CaptainObvious's picture

At least the cartoons are funny, the good guys usually win, and you get to see the bad guys have safes dropped on their heads, or they get blasted from cannons, or they get eaten by sharks.  I would seriously pay to watch every Yea voter get sawed in half by an incompetent magician or shot into deep space from a giant slingshot.

Wed, 10/16/2013 - 23:07 | 4063772 Seer
Seer's picture

And then there's the drawings that your kids do:

http://www.thebestpageintheuniverse.net/c.cgi?u=irule2

Sorry, I'm always on the lookout for some place to introduce this.  It's funnier than hell.

Wed, 10/16/2013 - 23:27 | 4063822 LetThemEatRand
LetThemEatRand's picture

That guy is more cynical than me!  Bravo.  

Thu, 10/17/2013 - 05:31 | 4064156 NidStyles
NidStyles's picture

I think it sucks, but to each his own.

Thu, 10/17/2013 - 08:25 | 4064426 blindman
blindman's picture

love the humor , but some of those kids have some talent.
hilarious. speaking of curious ...
i was wondering who or what historical person receives
the most air time on the t.v. and it occurred to me that
it is adolf hitler. i think he has his own channel on
cable, 24 / 7 , there is a program on a channel or two
and there you will find some old footage and narrative
about adolf hitler. no one else in the history of the world
get the media attention this guy gets in the usa.
exactly what is that about i was wondering? it must reveal
something about the state of things, something dark and
dangerous and ugly.
.
anyway ...

Thu, 10/17/2013 - 09:01 | 4064558 wtf1369
wtf1369's picture

The "hairy piece of shit firetruck" has made me laugh for years. I'm a simple caveman.

Wed, 10/16/2013 - 22:23 | 4063583 NoDebt
NoDebt's picture

I wish I had made the "Mission Accomplished" comment an hour ago here:

http://www.zerohedge.com/news/2013-10-16/will-debt-ceiling-standoffs-eve...

Wed, 10/16/2013 - 22:23 | 4063585 Freedumb
Freedumb's picture

Just a minor editing comment for the article above -- the BLS random number generator saying how awful the economy is, is bullish for stocks because it means that much un-taper. If you want to make it doubleplus correct!

Wed, 10/16/2013 - 22:28 | 4063609 oddjob
oddjob's picture

Very soon the half life of tapering threats will be zero.

Wed, 10/16/2013 - 22:24 | 4063586 rubearish10
rubearish10's picture

Waiting for sell the confirmation, hmmmm..no USD rally that's for sure but Yen crosses look just peachy as in "baked in". Now what? Enter Gold!?????

Wed, 10/16/2013 - 22:26 | 4063600 Ham of Love
Ham of Love's picture

Sell the fact NOW or wait till we've had breakfast?

Wed, 10/16/2013 - 22:25 | 4063591 Critical Path
Critical Path's picture

From Boehners Facebook page:

"Thank you for all of your support and encouragement. The House has fought with everything it has to convince the president to engage in bipartisan negotiations aimed at addressing our country’s debt and providing fairness for the American people under ObamaCare. Our fight will continue."

Please do us all a favor and pack it up Boehner, I'm sure we would all be better off if you did NOT continue the "fight"

Thu, 10/17/2013 - 00:32 | 4063942 Renewable Life
Renewable Life's picture

The arrogance and delusion of this motherfucker, is matched by no one!!

This cocksucker thinks he did a good job and got a standing O for selling out his own children and grandchildren in this Country tonight!!

Wed, 10/16/2013 - 22:27 | 4063593 10mm
10mm's picture

Awsome,love it.Can't wait to get to work and see the Red Team fraud supporters.Man im gonna have a fuckin grin.Of cource the shit heads on blue team will have happy grins,yes, big happy grins.

Wed, 10/16/2013 - 22:25 | 4063594 TaperProof
TaperProof's picture

BUMS

Wed, 10/16/2013 - 22:25 | 4063596 Incubus
Incubus's picture

Back into the dream.

 

Wed, 10/16/2013 - 22:26 | 4063602 TaperProof
TaperProof's picture

Nice bum

Wed, 10/16/2013 - 22:27 | 4063601 JLee2027
JLee2027's picture

87 more traitors to the US have shown themselves. 

Wed, 10/16/2013 - 22:45 | 4063692 GMadScientist
GMadScientist's picture

Try 310.

Wed, 10/16/2013 - 23:45 | 4063852 Ms. Erable
Ms. Erable's picture

The house vote tally should be displayed according to what they really voted on - a multiple choice question:

If the UNITED STATES keeps borrowing 1.7 triilion dollars per year at 2% interest, how many years will it take before the UNITED STATES can no longer pay the interest on its debt? Choose one:

A) Alreaady there, bitchez! (144 responses)

B) Math is hard! (285 responses)

Thu, 10/17/2013 - 02:29 | 4064048 darkstar7646
darkstar7646's picture

Any discussion of "math" must come with "population reform".

Until you, Congress, Karl Denninger, or anyone else decides to actually discuss this, you will continue to miss the point.

Wed, 10/16/2013 - 22:26 | 4063603 GMadScientist
GMadScientist's picture

53 NV?! Da-fuck?

Wed, 10/16/2013 - 22:27 | 4063604 SumSUN
SumSUN's picture

So what if the bankers can hold the future generations hostage to pay the debt, perhaps even those who haven't been born yet.  If the U.S. would have defaulted it would have been the end of our lifestyle as we know it!

Thu, 10/17/2013 - 05:34 | 4064159 NidStyles
NidStyles's picture

"Our" lifestyle? You mean SNAP cards and disability checks for obesity?

Wed, 10/16/2013 - 22:27 | 4063605 Exponere Mendaces
Exponere Mendaces's picture

October 16th, the day the U.S.A. became Zimbabwe.

 

Wed, 10/16/2013 - 22:31 | 4063627 LetThemEatRand
LetThemEatRand's picture

Was that the day in 1913 when the Fed began?

Wed, 10/16/2013 - 22:44 | 4063690 BTFDemocracy
BTFDemocracy's picture

Dec 23rd; when no one was watching.

Wed, 10/16/2013 - 22:33 | 4063640 Ham of Love
Ham of Love's picture

Autocratic rule, repression and economic collapse? Yes but Mugabe's got personality.

Wed, 10/16/2013 - 23:54 | 4063884 Wahooo
Wahooo's picture

Sell the news.

Wed, 10/16/2013 - 23:12 | 4063781 Seer
Seer's picture

1971?

That's when the US went full-fiat.

Wed, 10/16/2013 - 23:22 | 4063811 Teddy Tenpole
Teddy Tenpole's picture

 

 

 

Umm, you might want to google petrodollar before you commit to full-fiat (don't worry though you're joined by most every boomer doomer on here who thinks they know what they are talking about).

 

 

Thu, 10/17/2013 - 05:36 | 4064160 NidStyles
NidStyles's picture

Fiat means it's declared to be the standard by the government... Petrodollar is the result of clever bankers and political turds making back room deals to enrich themselves.

 

Leave the boomers alone, they will take enough flak when this mess finally goes boom.

Wed, 10/16/2013 - 22:27 | 4063606 surf0766
surf0766's picture

February hahahah very funny. You just gave 1 guy the right to unilaterally raise the debt ceiling.. Nice jobbbbbbbbbbbbbbbbb

 

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