This page has been archived and commenting is disabled.

This Time, Boehner "Capitulates" Early On Debt Ceiling

Tyler Durden's picture




 

Apparently squeezed by an internal party split, The Hill reports that House Republican leaders have concluded that they cannot pass an increase in the debt ceiling without help from Democrats, abandoning plans to tie legislation either to ObamaCare or the Keystone pipeline. Having initially planned on these negotiation points, Boehner discovered he would not have enough votes to pass the bill... and folded. That left Republican leaders with no clear alternative to addressing the debt limit, which, as we noted is rapidly approaching at the end of February, as a combination of Republicans and Democrats will be needed to get a debt-limit boost through the House - leaving some Reps describing a clean debt-ceiling bill as "Capitulation."

 

Via The Hill,

...

 

The central question will be whether Democrats hold firm on their stance that no extraneous provisions can be attached to a debt-limit boost, or whether Republicans will be able to extract any modest concessions in exchange for a borrowing boost. So far, Democrats and the White House have been publicly adamant about only accepting a "clean" increase.

 

Conservatives have said in recent days they would oppose a clean increase, but several seemed increasingly resigned to seeing a clean bill passed with Democratic help.

 

A clean debt-ceiling [bill] would not garner my vote, but if the House leadership chooses to go that route and believes that’s in the best interests of the country and they don’t need my vote to accomplish that, I’m OK with that,” Rep. Cynthia Lummis (R-Wyo.) said Tuesday.

 

...

 

Rep. Raul Labrador (R-Idaho) reiterated his opinion that the GOP should pass a clean bill and let Democrats "own it," while Rep. Joe Barton (R-Tex.) said the party should keep searching for a proposal to attach to the measure.

 

"I don’t advocate some sort of scorched earth process, but I do advocate coming up with some common sense structural reforms or specific entitlement reforms that don’t effect program benefits immediately," Barton said.

 

"A clean debt ceiling I think is capitulation," he added, "and I didn’t get elected by the 6th district of Texas to come here to Washington and capitulate."

 

Republican leaders have spent the past several days taking the temperature of their rank-and-file, searching for a way to pass a debt-limit bill with only GOP support.

 

...

 

But neither plan gained momentum in the last several days, leaving Republicans at an impasse.

And as we noted here, the X-Date is rapidly approaching...

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 02/05/2014 - 16:27 | 4405237 Fogey
Fogey's picture

Chance The Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.

Wed, 02/05/2014 - 16:32 | 4405259 TruthInSunshine
TruthInSunshine's picture

Thank god for checks & balances, and a two-party political system!

#Complete&TotalSarc

#RaiseTheRoof

Wed, 02/05/2014 - 16:33 | 4405276 Fogey
Fogey's picture

Chance the Gardener: Why?

Wed, 02/05/2014 - 16:35 | 4405286 max2205
max2205's picture

John please move to russia where you belong

Wed, 02/05/2014 - 16:37 | 4405298 clooney_art
clooney_art's picture

GOP these days is just an extention of the Democrat party. There is virtually no opposition except for Gay Marriage and Abortion. Now those issues will start a war but let the country go to dust.

Wed, 02/05/2014 - 16:46 | 4405354 i_call_you_my_base
i_call_you_my_base's picture

"GOP these days is just an extention of the Democrat party."

People on the left say the same thing but in reverse. Niether is true, it's that they are both corrupt and don't give a shit about american citizens or the future.

Wed, 02/05/2014 - 16:51 | 4405359 Stackers
Stackers's picture

You can not stop growing debt levels in a fractional reserve money banking system. Any talk of debt reduction or limits is political side show theater to distract the masses

Wed, 02/05/2014 - 16:54 | 4405387 walküre
walküre's picture

Same reason they can't raise rates or terminate QE - EVER.

Wed, 02/05/2014 - 17:13 | 4405473 HardlyZero
HardlyZero's picture

I say Boehner, you say Bonar, lets call the whole thing off.

Wed, 02/05/2014 - 18:27 | 4405768 Boris Alatovkrap
Boris Alatovkrap's picture

Boehner is German name, but why is Speaker of House act like French man?

Wed, 02/05/2014 - 20:42 | 4406250 boogerbently
boogerbently's picture

After the inevitable decline of America as THE superpower, I feel the eventual blame won't be placed on politicians or bankers or Wall Street or greed, but on the MSM, for NOT DOING THEIR JOB.

 

Wed, 02/05/2014 - 18:14 | 4405700 EscapingProgress
EscapingProgress's picture

There is no debt ceiling. Well, there is a debt ceiling in the practical sense which is more closely related to the prevailing interest rates than the total principal, but there is not a legally binding debt ceiling. The legal debt ceiling will continue to be raised without any serious stipulations, and the new debt issued to pay off the old debt will be funded in part by MyRA.

Wed, 02/05/2014 - 17:21 | 4405506 T-roll
T-roll's picture

Congratulations, Stackers!  You get an A+ in Banking and but instead of the Honor Roll you will be added to the Terror Watch list.

Wed, 02/05/2014 - 18:31 | 4405725 SDShack
SDShack's picture

The real news is Congress and Wallstreet just gave the green light to Yellin to fire up the presses. With a complete cave on the debt ceiling (just like everyone knew the pukes would) + the end of sequestration = deficit spending to the moon Alice! You've already got a taste of it with the Farm Bill that was just passed. It's out of control spending now, 0zer0care, amnesty, minimum wage, farm bill, unemployment extensions, SNAP, climate change, Syria war, Iran war, nothing will be off the table now. Which means the Fed will have to issue QE Infinity to keep monetizing the debt. No way they can keep a lid on treasury rates unless the Fed is the ONLY buyer of last resort. Bullish! Rinse and repeat bitches!

Wed, 02/05/2014 - 18:16 | 4405729 HardAssets
HardAssets's picture

"Debt Ceiling' in an article's title =  Don't waste a minute reading it, a total waste of time and irrelevant. There is no 'ceiling' and they'll spend the citizenry into bankruptcy and steal all they can get their hands on before it all comes crashing down.

Wed, 02/05/2014 - 16:51 | 4405381 wee-weed up
wee-weed up's picture

"Capitulate early and often!"  -- John Boner

Wed, 02/05/2014 - 17:21 | 4405510 ebworthen
ebworthen's picture

Lol...yes...and of course they are capitulating; you can't continue the Ponzi, float equities, and increase debt serfdom by being fiscally responsible and enforcing the law.  Forward Kleptoligarchy!

Wed, 02/05/2014 - 16:35 | 4405284 wintermute
wintermute's picture

"Republican leaders have concluded that they cannot pass an increase in the debt ceiling "

Wow. The historically conservative party of the US which should champion small government and sound finances, cannot perform socialist Argentina-like irresponsible spending actions.

They should be PLEASED that they cannot increase the debt limit. This is SANITY.

Wed, 02/05/2014 - 16:40 | 4405312 Rainman
Rainman's picture

..." with not even a smidgen of corruption " ....< Barry-puke >

Wed, 02/05/2014 - 16:54 | 4405394 Groundhog Day
Groundhog Day's picture

Why dont these clowns just make it 25 trillion and be done with it for 2-3 years.  Their going to raise the limit every time anyway

Wed, 02/05/2014 - 17:17 | 4405486 chemystical
chemystical's picture

But this time they mean it!  Seriously!  Really, they mean it!

Here's a sobering graph:

http://en.wikipedia.org/wiki/File:US_Public_Debt_Ceiling_1981-2010.png

"Every President since Herbert Hoover has added to the national debt expressed in absolute dollars. The debt ceiling has been raised 74 times since March 1962,[2] including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush, and five times under Barack Obama."

"In 1979, noting the potential problems of hitting a default, Dick Gephardt imposed the "Gephardt Rule," a parliamentary rule that deemed the debt ceiling raised when a budget was passed. This resolved the contradiction in voting for appropriations but not voting to fund them. The rule stood until it was repealed by Congress in 1995."

How about the chemystical rule whereby, in order to resolve the apparent contradiction of our (putative)representatives not representing us, we just shoot them all now?  And for those dynastic behemoths who seem to think that - as de facto royalty - the right to hold public office is bequeathed to them at birth, how about we shoot their families too?

 

Wed, 02/05/2014 - 18:58 | 4405880 akarc
akarc's picture

Thats called birth control. Some folk don't like that. Mostly old white guys.

Wed, 02/05/2014 - 22:08 | 4406542 kchrisc
kchrisc's picture

Yeah, "checks" and "balances" alright. As in, "What's my balance after I deposit that payoff check?"

 

"545 pols in DC, 545 pols in DC, take one to the gallows, 544 pols in DC..."

Wed, 02/05/2014 - 16:35 | 4405283 buzzsaw99
buzzsaw99's picture

I like to watch.

Wed, 02/05/2014 - 16:35 | 4405285 kralizec
kralizec's picture

It's always the dead of winter with the Giant Weeping Carrot in control!

I think this is his way of getting out in front of the angry hoards.

Good luck with that.

(Not really!)

Wed, 02/05/2014 - 16:37 | 4405296 ArkansasAngie
ArkansasAngie's picture

I will vote against every imcumbent.  I don't care about their party affliation.  I don't care who is running against them. 

 

Wed, 02/05/2014 - 16:38 | 4405319 blabam
blabam's picture

LOL voting...

Wed, 02/05/2014 - 17:14 | 4405479 HardlyZero
HardlyZero's picture

With the new Healthcare all the voters will arrive at the polling vomiting in their votes.

Wed, 02/05/2014 - 17:21 | 4405511 T-roll
T-roll's picture

But the 90% of Americans who disapprove of Congress with vote them all back in.

Wed, 02/05/2014 - 17:25 | 4405528 chemystical
chemystical's picture

Appreciate the enthusiasm Angie, but you missed the 2nd half of your mission:

"I won't vote for any (D) or (R)."

Simply "voting against every incumbent" leavesn the door open for Tweedle Dum.

Criminy, vote for the freaking Communist Party.  At least you won't be disappointed.

Don't like the Tea Party?  Vote for the Coffee Party.  Their presidential candidate (or was she VP candidate?) in 2012 was long on wishful thinking and short on concrete ideas, but at least she was intelligent and sincere.  DC is filled with both of those characteristics but rarely in the same person.

Wed, 02/05/2014 - 18:53 | 4405862 akarc
akarc's picture

I tried to get folk to buy into that a few years back. Imagine the message it would send if everybody just stayed home? Not just for election day. But say a freaking week. Don't spend anything you do not have to.   

Wed, 02/05/2014 - 19:02 | 4405891 PacOps
PacOps's picture

ArkansasAngie

Been doing that since the 80s. Has yet to produce any results other than a sense of self satisfaction. I cannot deal with "not voting" as a protest.

Wed, 02/05/2014 - 22:19 | 4406569 kchrisc
kchrisc's picture

People have been voting for some 200+ years, and look where we are now.

Yeah, voting works, get the word out. LOL

 

Sidenote: If the institution that is having the election is criminal, as is the Unconstitutional US government, then to participate in their elections is to participate in the criminality. I'm just saying.

Wed, 02/05/2014 - 22:31 | 4406597 B52Wing
B52Wing's picture

+1 for the use of the term "flacid"

Wed, 02/05/2014 - 16:35 | 4405300 SteveNYC
SteveNYC's picture

Boehner's flacid handling of this situation gives one an impression of impotence when considering his party.......

 

:)

Wed, 02/05/2014 - 17:17 | 4405485 HardlyZero
HardlyZero's picture

raw !  and anti-climatic.

Wed, 02/05/2014 - 17:40 | 4405591 Offthebeach
Offthebeach's picture

How do they interview someone locked 24/7 in a spray tan booth, crying like Tammy Fay Baker?

Wed, 02/05/2014 - 16:28 | 4405243 QQQBall
QQQBall's picture

Pubs' are gonna run Romney again... beyond surreal. 

Wed, 02/05/2014 - 16:35 | 4405289 Dr. Engali
Dr. Engali's picture

You don't believe they really want to win do you? If they did they never would have run a private equity guy in the first place, or the treasonous McShitstain before him. How out of touch can they be? 

Wed, 02/05/2014 - 17:23 | 4405522 zaphod
zaphod's picture

Considering where things are headed in the next 5-10 years, I'm not sure I would want to be in charge. 

IMHO whoever is elected next will be the Hoover of the 21st century. 

Wed, 02/05/2014 - 17:44 | 4405613 Offthebeach
Offthebeach's picture

Mitt would be/is a perfect Hoover.

We're really going to get, vote for, and deserve a dictatorship.

For the children.

Wed, 02/05/2014 - 18:18 | 4405741 Dr. Engali
Dr. Engali's picture

Uhhmmm. In case you haven't noticed, we already have one.

Wed, 02/05/2014 - 16:36 | 4405303 corporatewhore
corporatewhore's picture

i was wondering why i was seeing this "mitt" movie advertised.  as if i have time to take away from watching dancing with the stars.  gotta keep my blinders on and just go about surviving day to day.

maybe mitt can reorg the country just like he's done for other common folks ( or is that fucks?)

Wed, 02/05/2014 - 16:38 | 4405310 kralizec
kralizec's picture

Don't be silly.  They'll trot out another Ruling Class tool to lose in pathetic style.  Besides...it really doesn't matter...Pubbie/Democrat...like trying to decide between a raccoon and a skunk...

Wed, 02/05/2014 - 17:08 | 4405449 Joe Davola
Joe Davola's picture

I bet they both taste like chicken - if fixed properly.

Wed, 02/05/2014 - 18:48 | 4405842 akarc
akarc's picture

to much greasy fat and the meat stinks

Wed, 02/05/2014 - 16:31 | 4405252 redpill
redpill's picture

Why have a ceiling if you just let them raise it every time with no concessions?

Wed, 02/05/2014 - 16:37 | 4405308 Sudden Debt
Sudden Debt's picture

folding... it's the NEW American way

Wed, 02/05/2014 - 16:38 | 4405314 Smegley Wanxalot
Smegley Wanxalot's picture

Because the ceiling lets the world know that this time we are serious about controlling debt.

Wed, 02/05/2014 - 17:01 | 4405417 cossack55
cossack55's picture

Ugh, duh!!!  Have you ever seen a house of cards without a ceiling?

Wed, 02/05/2014 - 16:30 | 4405253 Smegley Wanxalot
Smegley Wanxalot's picture

BOHICA:  Boehner Over ... Here It Comes Again.

Wed, 02/05/2014 - 16:30 | 4405254 Al Capowned
Al Capowned's picture

My Girlfirend gets disappointed when my Boehner capitulates

Wed, 02/05/2014 - 16:34 | 4405272 SilverIsKing
SilverIsKing's picture

She should be satisfied by then, no?

Wed, 02/05/2014 - 16:38 | 4405306 Smegley Wanxalot
Smegley Wanxalot's picture

by then?  Boehner capitulates after about 5 seconds.

Wed, 02/05/2014 - 16:34 | 4405278 10mm
10mm's picture

That's why there are devices. Just wanna be a chick for a day.

Wed, 02/05/2014 - 17:03 | 4405420 cossack55
cossack55's picture

So am I to infer that Pelosi is a device?  Sure, she looks like a device, but so does Cantor.

Wed, 02/05/2014 - 18:49 | 4405840 akarc
akarc's picture

Well thank you for that visual.

Wed, 02/05/2014 - 16:32 | 4405258 Greenskeeper_Carl
Greenskeeper_Carl's picture

I hate how they use the word 'clean' to describe anything they do. As if piling more debt into the mountain they are leaving generations as yet unborn can be anything resembling 'clean'.

Wed, 02/05/2014 - 18:14 | 4405716 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

There is nothing "clean" in Washington DC. Especially close to Capitol Hill.

Wed, 02/05/2014 - 16:33 | 4405260 onewayticket2
onewayticket2's picture

hey, it's what the youth votes WANTS....they voted democrat, they got democrats (and liberal republicans)....and now they're getting their debts, too.

 

suckers.

Wed, 02/05/2014 - 16:59 | 4405402 Surging Chaos
Surging Chaos's picture

A lot of these career politicans were elected when most millennials were still in diapers, let alone even born. Not to mention the creation of the Fed and the eventual ending of the gold standard both happened several generations ago and are the key reasons why the US has reached close to the endgame.

The real scapegoat shouldn't be young people, but the people from decades ago that decided things like central banks and fiat currency were good ideas.

Wed, 02/05/2014 - 17:15 | 4405480 NOTaREALmerican
NOTaREALmerican's picture

But, but, but...  You mean the worlds greatest generation?  The one that got rich bilking Big-MIC and is now living off of SS and getting free hip-replacements from Medicare?   

No, they build this goddamn great-n-glorious country and built the log cabins they were born in too.

Wed, 02/05/2014 - 19:00 | 4405833 akarc
akarc's picture

I'm an ol guy. And to the young folk I offer my sincerest apologies for the freaking job my generation did to you.  Id give ya back the money my generation has stolen from you. But Fuck, they stole it from me too.

Maybe the Tea Party will make it all better. /sarc

Wed, 02/05/2014 - 16:58 | 4405408 walküre
walküre's picture

How did the youth have any chance to figure out what would happen to them given the nonstop bullshit propaganda served by the oldies?

The oldies leaving the youth with a whole big bag of nothing instead of giving them a legacy to build upon further. All short term thinking and motivated by greed. I think America could have done better without that last couple generations, don't you?

Wed, 02/05/2014 - 16:54 | 4405270 LawsofPhysics
LawsofPhysics's picture

Traitorous cunts, you know they are going to front run all this shit too, because it is okay for your representation to trade on inside information, but not you.  Execute these fuckers already, for the good of the republic.

Wed, 02/05/2014 - 16:34 | 4405277 Winston Churchill
Winston Churchill's picture

Boner has gone soft.

Not sure it was ever hard.

ED of the body politic.

Wed, 02/05/2014 - 16:33 | 4405279 Dangertime
Dangertime's picture

Or in other words.....there really is no difference between Repubs and Dems since there is one thing they can agree on, how to take more from the Citizens.

Wed, 02/05/2014 - 16:53 | 4405389 marathonman
marathonman's picture

It doesn't matter who's in elected office if bankers control the money supply.  I think that is a paraphrase of Baron Rothschild.  I think he knew a thing or two....

Wed, 02/05/2014 - 16:53 | 4405390 marathonman
marathonman's picture

crappy internet connection....

Wed, 02/05/2014 - 16:56 | 4405391 marathonman
marathonman's picture

.

Wed, 02/05/2014 - 16:35 | 4405281 Al Capowned
Al Capowned's picture

Everyone knows there is a 99.9% chance its getting raised.

It used to be a green light for gold and silver rally, but even during last debt celing hike the metals got trashed by the cartel.

Wed, 02/05/2014 - 19:26 | 4405986 Blano
Blano's picture

It's not 99.9%.  It's 100%.

Wed, 02/05/2014 - 16:36 | 4405290 NoWayJose
NoWayJose's picture

Like, is this really a surprise???  The Democrats and RINOs have been running the show as Boehner has done nothing but fold on EVERY vote.  The only hope for the Republicans is to get enough Tea Party members in the House together so that they can vote out the Boehner, Cantor and Ryan RINOs and get a new Speaker with a backbone.

Wed, 02/05/2014 - 17:04 | 4405431 Spastica Rex
Spastica Rex's picture

I still don't understand why the Tea Party is called a party; they're at most a wing.

T-Wing.

Wed, 02/05/2014 - 18:42 | 4405815 akarc
akarc's picture

feathers

Wed, 02/05/2014 - 16:35 | 4405294 buzzsaw99
buzzsaw99's picture

Your winnings sir. [/casablanca]

Wed, 02/05/2014 - 16:38 | 4405313 FieldingMellish
FieldingMellish's picture

All is well in the beautiful kingdom once again. Sleep easy taxpayers, Boehner's got your back... just watch out for the knife.

Wed, 02/05/2014 - 16:38 | 4405321 Dr. Engali
Dr. Engali's picture

The dabt ceiling is one of the more ridiculous notions out there. Stop pretending like there will be any fiscal discipline ever, and get rid of the damn thing. It save us all the drama and we don't have to see your fugly mugs on teevee.

Wed, 02/05/2014 - 16:44 | 4405337 kralizec
kralizec's picture

Removal of limits would remove ALL doubts and signal stability from now to infinity, right?!  No more fights, no more risk of default, no more drama!

Do it, I triple-dog dare 'em!

Wed, 02/05/2014 - 17:00 | 4405409 Spastica Rex
Spastica Rex's picture

The plebs need both panem et circenses.

Wed, 02/05/2014 - 16:40 | 4405322 Sudden Debt
Sudden Debt's picture

18 trillion... by march?

Wed, 02/05/2014 - 17:03 | 4405427 cossack55
cossack55's picture

OK

Wed, 02/05/2014 - 16:41 | 4405330 FieldingMellish
FieldingMellish's picture

Time to ramp stawks and bang VIX into the close... sell PMs whether you got them or not...

 

Miners now getting crushed....

Wed, 02/05/2014 - 16:48 | 4405360 monad
monad's picture

It would be news if he didn't fold.

Wed, 02/05/2014 - 16:52 | 4405385 Yen Cross
Yen Cross's picture

  Since the last debacle in October, TOTUS has spent approx. $1/2 trillion refilling extraordinary measures he stole while hitting the last ceiling early and normal .gov expenses. That's in 4 damned months, and there hasn't been a limit since November or December. This shit is so out of control it makes me sick. This country is one banana peel away from sliding across the event horizon!

Wed, 02/05/2014 - 16:58 | 4405388 jim249
jim249's picture

And all these foreign countries buying all these worthless treasurys. Sure they will be paid back some day, with cargo ships full of federal reserve notes!

Wed, 02/05/2014 - 17:10 | 4405463 NOTaREALmerican
NOTaREALmerican's picture

Re;  And all these foreign countries buying all these worthless treasurys

Every other country on the planet is using the same system we are.   Everybody loves free money.   

Free money created the most prosperous country in the world from the 1950's through the 1990's.   Many generations of Americans got wealthy on free money.  

Who actually believes that something that worked for 40+ years would suddenly stop working now?  

Cue Krugman:   All we need is ANOTHER Big-MIC.   Big-AntiSpaceAlien and all will be wonderful, again.

Wed, 02/05/2014 - 16:53 | 4405392 Critical Path
Critical Path's picture

Hopefully come November we can replace one bum for another

Wed, 02/05/2014 - 18:39 | 4405804 akarc
akarc's picture

And thats exactly what will happen

Wed, 02/05/2014 - 16:57 | 4405400 NOTaREALmerican
NOTaREALmerican's picture

Well,  Cheney did say that Reagan proved deficits don't matter.   So, not sure what everybody is so worked up about.  

Wed, 02/05/2014 - 17:01 | 4405414 rwe2late
rwe2late's picture

No copulation

without Capitulation?

Hardly.

R's just want the D's to agree to having the cover of a colorful condom, before sticking it to the public.

The D's want the R's to agree to do it bareback, to show that the R's concern about STDs is hypocritical.

Of course both the Ds and the Rs are lying disease-ridden satyrs, who the public should not trust.

 

Wed, 02/05/2014 - 17:24 | 4405438 NOTaREALmerican
NOTaREALmerican's picture

Re:  who the public should not trust.

You almost got it right...

Of course both the Ds and the Rs are lying disease-ridden satyrs, who [create bullshit for their dumbasses about why the other Team will "hurt Merica" ].

If it wasn't for the true-believing dumbasses who vote Red and Blue Team every year we might actually have a Democracy.   But, both teams have very skilled sociopaths able to create very high quality bullshit to manipulate their dumbasses with.

The dumbasses will be voting Red and Blue Team next time too, because - well, you know: "That __________ guy is a __________ and it will be the end of Merica if I don't vote [Red|Blue] Team to stop him/her from winning!!"

We've got the only system possible with the quality of the dumbasses in this country. 

 

Wed, 02/05/2014 - 17:05 | 4405430 Son of Captain Nemo
Son of Captain Nemo's picture

Where oompa loompa juice gets made... Too bad we don't have a third frame with Christine Legarde to make it complete!

 

 

 

Wed, 02/05/2014 - 17:05 | 4405434 B.J. Worthy
B.J. Worthy's picture

Boehn Dover.

Wed, 02/05/2014 - 17:12 | 4405472 ThroxxOfVron
ThroxxOfVron's picture

Prepare for a massive Bi-Partisan debt and spending bill-of-goods thievery designed to prop, re-distribute, bail-out, hollow-out, gift the corrupt TBTF/Cronies/Status-Qriminals/DuopOligarchy/Rentiers everything that isn't nailed down, and hand out free claw hammers and pry-bars to the favored cuntstituencies.

Wed, 02/05/2014 - 17:20 | 4405499 Babaloo
Babaloo's picture

And we unwind yesterday's big news here on ZH. The "explosion" in 1 month bill yields.

Tyler again proving himself a dumb ass...

Wed, 02/05/2014 - 17:46 | 4405523 earleflorida
earleflorida's picture

hmmm... the 'farm bill' passed yesterday will cost taxpayers ~ $96bl., with $80bn going to JP Morgan's 'Snap Program' taking a 15% cut! Nice!

the remaining $16bl of the annual $96bl for five (5) yrs. will subsidize (GMO's) crop ins., and direct (GMO's)subsidies which helps reduce the export cost to China benefiting the Chinese which can have us (ussa) produce it more efficiently without land set aside for rice or other crops, more indigenous to soil... thus saving (land conservation) untold fortunes on our overproduction (sapping our soil?)! Indeed, the gop red-coats, tough negotiations ,shaved ~1% off the original request ~ a whopping $800ml. the gop wanted 5% but the fierce fighting and bloodshed-- a battle won decisively by General Abraham Obama, was a spirited triumphant rout!

his (Gen Abraham Obama) troops, led by the flank Lady`Brigadier Pelosi will squash the canadian uprising of  red`shirt enviro-jihadist and the ill-concieved XL-Pipeline in favor of a SanFran Treaty on the shores of the infamous 'Battle of the Maginot` de`San Andres Flaccid`deFault Lines. a monumental victory for the blue coats and nationalistic socialist party? 

emperor obama says a countries strong balance sheet is its clothes?

the emperor has no clothes!

jmo

Wed, 02/05/2014 - 18:34 | 4405785 akarc
akarc's picture

omibus/AG bills so full of shit and damn near unreadable

For the Pentagon:  $4 million for alcohol and substance abuse research, $12 million for Alzheimer’s research, $120 million for breast cancer research, $10.5 million for lung cancer research, $20 million for ovarian cancer research, $80 million for prostate cancer research,
These are non defense related expenditures and are redundant  Items in the bill not requested by the armed services that will get anyway: funding for weapons not even requested by the Pentagon, including $90 million for Abrams tank upgrades to maintain “critical industrial base capability,” $1.2 billion to the Navy's request to fully fund a second Virginia-class submarine in fiscal year 2014 (the Navy had requested partial funding), and eight additional MQ-9 Reaper UAVs on top of the 12 the Air Force requested. The Coburn document also shows that the omnibus funds research not requested by the Pentagon, including $6 million for human, social and culture behavior modeling, $46.7 million for weapons technology, and $70 million for common kill vehicle technology. THe overseas contingency operations budget, part of the defense Department receives 5 billion more than than the 86.2 billion the pentagon asked for. This in spite of the fact that troop levels have been reduced from 60,000 to 30,000 in the last year.  In other words, more money for less services and sevices not requested But the above is only a drop  in the bucket of the waste contained in the new non partisan farm bill obama says he will sign;  "The bill, which sets agriculture policy and spending for five years (roughly $100 billion a year)," http://www.mrc.org/bias-numbers/500-billion-bias-networks-ignore-farm-bill-waste-abuse-every-single-story In the wake of the farm belt drought in the summer of 2012, the government-funded crop insurance program paid U.S. farmers as much as $7.8 billion more than they suffered in losses,  http://articles.chicagotribune.com/2014-01-04/opinion/ct-farm-bill-crop-insurance-edit-0104-20140104_1_crop-insurance-insurance-plan-farm-billrc under the new legislation as under the old legislation crop losses will be covered by various governemnt programs.

The Farm Bill is a cornucopia of outdated, wasteful, and often silly programs, many of which should be allowed to die. For example, the United States has been paying $145 million each year to accommodate Brazilian cotton farmers, who alleged in that American cotton farmers had been receiving unfair subsidies. When the World Trade Organization ruled in favor of Brazil, the United States decided to pay off Brazilian farmers rather than end the subsidies.

http://cagw.org/media/wastewatcher/farm-bill-should-buy-farm In other bad news, the sugar program, which has been criticized by Citizens Against Government Waste (CAGW) many times for inflating the price of sugar and benefiting the wealthiest one percent of sugar farmers at the expense of consumers, would remain untouched. The Farm Bill is littered with New Deal-era supply restrictions and price supports that have largely come to be seen as backward in the twenty-first century, and the sugar program is among the worst offenders. Any Farm Bill that claims to attempt serious agriculture policy reform while leaving the sugar program intact should be dismissed as unserious. http://cagw.org/media/wastewatcher/farm-bill-should-buy-farm  and as a result, S.3240 terminated this program. However, the Senate replaced it with a more generous shallow-loss program, which guarantees that farmers receive 88 to 90 percent of current revenues when prices fall, would be expanded.
EXPANDING ON THE ABOVE: When farmers buy insurance, 62 percent of their premiums are paid for, courtesy of the American taxpayers. Unlike other farm programs, there’s no limit on the total subsidy received by farmers. According to the nonpartisan Government Accountability Office (GAO), a $40,000 limit on premium subsidies would have saved taxpayers $1 billion in 2011. If the premium subsidy level were set at 52 percent rather than 62 percent, GAO found that taxpayers would have saved $1.2 billion in 2011. There’s bipartisan recognition that the crop insurance needs real reform. President Obama is also advocating a reduction in this premium subsidy, yet Congress is only piling on.

 

Worse, the House and Senate bills would add new programs that could prove even costlier than the direct-payment program. One such program is called “shallow loss.” Farmers would be able to enjoy a revenue-guarantee program to cover even minor losses. Such programs only encourage more risk-taking by farmers, because the costs are being paid by taxpayers.

Read more: http://www.washingtontimes.com/news/2013/jun/3/growing-absurdities-in-the-farm-bill/#ixzz2ryqj0SXK 

yepper, food stamps were cut but read the bill,  Jobs are fucked and the corporations will do fine! Tell me again how Obama is not a corporate tool.. 
Thu, 02/06/2014 - 20:53 | 4410024 earleflorida
earleflorida's picture

great report! the time involved putting this piece together must have been laborious and consuming, thankyou akarc

lots of good stuff:-))

sad, what our government has turned into,... totally out of control with multiple pensions their main goal... thus, turning a blind-eye to what is at present a benign machiavellian triatorous cadre of folly!?! 

 

Wed, 02/05/2014 - 17:26 | 4405535 Occams_Chainsaw
Occams_Chainsaw's picture

"Apparently squeezed by an internal party split"

Should he not be called Testicles instead of Boner then?

Wed, 02/05/2014 - 18:00 | 4405668 22winmag
22winmag's picture

People who call the French cheese-eating surrender monkeys aren't familiar with Republicrat party leadership.

 

SURRENDER REPUBLIFUCKS!

Wed, 02/05/2014 - 18:13 | 4405722 f16hoser
f16hoser's picture

Boner you Pussy! Just End the FED! Simple Really. But then again, who's greasing your palms with excess FIAT? You and all the other Cronies!

Wed, 02/05/2014 - 18:16 | 4405730 f16hoser
f16hoser's picture

Hey Johnny, you got a little white stuff on your chin. Apparently, Obozzo got some some on yoou!u!

Wed, 02/05/2014 - 18:22 | 4405751 Flying Wombat
Flying Wombat's picture

The Hill's take is a little odd.  The fact is, the RINO and mainstream Republicans planned all along to fold.  That goes back to the end of the partial government shutdown last year.  At the time, you had entrenched RINOS like U.S. Senate Minority Leader Mitch McConnell talking about wanting to punch the TEA Party in the nose, and establishment hacks like Karl Rove getting ready to take REPUBLICAN pac money on the war footing against Constitutional Conservatives, libertarian and TEA Party Republicans.  What was that about a party divided?  Let's not mince words.  It's the mainstream RINOS that are shooting most of the bullets in this party war.

--

Eric Dubin, Manging Editor, TheNewsDoctors.com

Wed, 02/05/2014 - 21:48 | 4406473 moneybots
moneybots's picture

"The fact is, the RINO and mainstream Republicans planned all along to fold."

They all planned to fold.  No one wants a balanced budget.  Any of them will scream about spending, until the cuts happen in their district.  Then all the balance the budget rhetoric goes out the window.

Wed, 02/05/2014 - 18:22 | 4405756 Debt Slave
Debt Slave's picture

MOAR! MOAR! MOAR!

Wed, 02/05/2014 - 19:11 | 4405927 Muppet
Muppet's picture

"Boehner is a pussy, Sir" aka Sam Elliott to Mel Gibson in "We were soldiers".

 

I have posted this same quip many times on ZH about Boehner.    He talks big but NEVER acts big.     People should see this coming by now.   He talks but caves.  Its predictable.   He's a girly man.  Spray tans like a girl too.   

Wed, 02/05/2014 - 19:10 | 4405929 kurt
kurt's picture

 

 

 

 

Boener Flip Flop

Boener Soft

Wed, 02/05/2014 - 19:16 | 4405946 catskinner
catskinner's picture

It seems as though the generations always blame the prior for the current state of affairs so blame away! And by the way what are u whiney fucks doing about it?

Wed, 02/05/2014 - 19:18 | 4405963 Blano
Blano's picture

Death to the GOP.

Wed, 02/05/2014 - 19:21 | 4405970 catskinner
catskinner's picture

Death to both dems and repubs.

Wed, 02/05/2014 - 19:41 | 4406041 Clowns on Acid
Clowns on Acid's picture

Crybaby Boehner is a tool for the corporations and AIPAC. he is controlled  by the Bolsheviks. 

Wed, 02/05/2014 - 21:03 | 4406320 JailBanksters
JailBanksters's picture

Somebody really should explain to these chimps exactly how the Feral Reserve system woiks.

You have to Increase it, it's how the system is designed to woik. It woiks by infinite borrowing, it's not rocket science. The only way you can stop it, is to get rid of the Feral Reserve and kick these ferengi to the curb that control it.

 

Wed, 02/05/2014 - 21:29 | 4406430 Flamin Rhoid
Flamin Rhoid's picture

JailBanksters. I upvoted you because of the Ferengi reference.Most funny stuff.I come to learn.Per Wiki"They and their culture are characterized by a mercantile obsession with profit and trade, and their constant efforts to swindle unwary customers into unfair deals".

Wed, 02/05/2014 - 21:44 | 4406457 moneybots
moneybots's picture

"leaving some Reps describing a clean debt-ceiling bill as "Capitulation."

 

There is a debt ceiling?  The debt clock never stops going UP.

Wed, 02/05/2014 - 22:41 | 4406633 kchrisc
kchrisc's picture

Yes the left/right and Democrat/Republican thing is mostly a smoke screen for the sheeple, but there are real power struggles going on behind the scenes. Power struggles between various power elites. They are fighting over who gets to be on top of the top.

I still say that Obama is a Manchurian candidate/president for the CIA powering. As such, they are trying to take power permanently by destroying the Democrats and any Pentagon friendly Republicans from within. I believed this before the 2008 election and I think that Obama's record since supports this theory.

 

The CIA and Pentagon were battling each other almost openly in the 1970s. And the Pentagon had their own Manchurian candidate as well, Mr. "Trilateral" Carter from Georgia.

Thu, 02/06/2014 - 17:22 | 4409118 rockface
rockface's picture

Boehner is three steps behind the Democrats aimlessly shuffling around searching for someone to surrender to.

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