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This Time, Boehner "Capitulates" Early On Debt Ceiling
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...
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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.
Thank god for checks & balances, and a two-party political system!
#Complete&TotalSarc
#RaiseTheRoof
Chance the Gardener: Why?
John please move to russia where you belong
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.
"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.
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
Same reason they can't raise rates or terminate QE - EVER.
I say Boehner, you say Bonar, lets call the whole thing off.
Boehner is German name, but why is Speaker of House act like French man?
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.
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.
Congratulations, Stackers! You get an A+ in Banking and but instead of the Honor Roll you will be added to the Terror Watch list.
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!
"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.
"Capitulate early and often!" -- John Boner
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!
"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.
..." with not even a smidgen of corruption " ....< Barry-puke >
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
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?
Thats called birth control. Some folk don't like that. Mostly old white guys.
Raise the ceiling?
http://www.silverdoctors.com/wp-content/uploads/2013/11/raiseceiling1.png
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..."
I like to watch.
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!)
I will vote against every imcumbent. I don't care about their party affliation. I don't care who is running against them.
LOL voting...
With the new Healthcare all the voters will arrive at the polling vomiting in their votes.
But the 90% of Americans who disapprove of Congress with vote them all back in.
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.
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.
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.
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.
+1 for the use of the term "flacid"
Boehner's flacid handling of this situation gives one an impression of impotence when considering his party.......
:)
raw ! and anti-climatic.
How do they interview someone locked 24/7 in a spray tan booth, crying like Tammy Fay Baker?
Pubs' are gonna run Romney again... beyond surreal.
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?
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.
Mitt would be/is a perfect Hoover.
We're really going to get, vote for, and deserve a dictatorship.
For the children.
Uhhmmm. In case you haven't noticed, we already have one.
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?)
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...
I bet they both taste like chicken - if fixed properly.
to much greasy fat and the meat stinks
Why have a ceiling if you just let them raise it every time with no concessions?
folding... it's the NEW American way
Because the ceiling lets the world know that this time we are serious about controlling debt.
Ugh, duh!!! Have you ever seen a house of cards without a ceiling?
BOHICA: Boehner Over ... Here It Comes Again.
My Girlfirend gets disappointed when my Boehner capitulates
She should be satisfied by then, no?
by then? Boehner capitulates after about 5 seconds.
That's why there are devices. Just wanna be a chick for a day.
So am I to infer that Pelosi is a device? Sure, she looks like a device, but so does Cantor.
Well thank you for that visual.
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'.
There is nothing "clean" in Washington DC. Especially close to Capitol Hill.
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.
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.
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.
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
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?
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.
Boner has gone soft.
Not sure it was ever hard.
ED of the body politic.
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.
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....
crappy internet connection....
.
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.
It's not 99.9%. It's 100%.
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.
I still don't understand why the Tea Party is called a party; they're at most a wing.
T-Wing.
feathers
Your winnings sir. [/casablanca]
All is well in the beautiful kingdom once again. Sleep easy taxpayers, Boehner's got your back... just watch out for the knife.
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.
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!
The plebs need both panem et circenses.
18 trillion... by march?
OK
Time to ramp stawks and bang VIX into the close... sell PMs whether you got them or not...
Miners now getting crushed....
It would be news if he didn't fold.
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!
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!
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.
Hopefully come November we can replace one bum for another
And thats exactly what will happen
Well, Cheney did say that Reagan proved deficits don't matter. So, not sure what everybody is so worked up about.
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.
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.
Where oompa loompa juice gets made... Too bad we don't have a third frame with Christine Legarde to make it complete!
Boehn Dover.
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.
And we unwind yesterday's big news here on ZH. The "explosion" in 1 month bill yields.
Tyler again proving himself a dumb ass...
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
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..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!?!
"Apparently squeezed by an internal party split"
Should he not be called Testicles instead of Boner then?
People who call the French cheese-eating surrender monkeys aren't familiar with Republicrat party leadership.
SURRENDER REPUBLIFUCKS!
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!
Hey Johnny, you got a little white stuff on your chin. Apparently, Obozzo got some some on yoou!u!
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
"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.
MOAR! MOAR! MOAR!
"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.
Boener Flip Flop
Boener Soft
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?
Death to the GOP.
Death to both dems and repubs.
Crybaby Boehner is a tool for the corporations and AIPAC. he is controlled by the Bolsheviks.
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.
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".
"leaving some Reps describing a clean debt-ceiling bill as "Capitulation."
There is a debt ceiling? The debt clock never stops going UP.
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.
Boehner is three steps behind the Democrats aimlessly shuffling around searching for someone to surrender to.