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Divine Intervention? House Speaker Boehner Resigns From Congress Amid "Conservative Coup"
The combination of another debt limit fight, the defunding of Planned Parenthood, and prospect of another government shutdown tearing his party apart, the GOP just suffered its latest major blow, when news hit that House speaker John Boehner, just 24 hours after getting a visit by none other than the Pope, is folding one last time:
- BOEHNER TO RESIGN FROM CONGRESS, GIVE UP HOUSE SEAT IN OCT: NYT
This not only makes a government shutdown more likely as a result of loss in leadership at this crucial stage but more importantly, with Yellen blaming Congress for not hiking, just raised the general uncertainty and lowered odds of a December (or any subsequent) rate hike.
Speaker John A. Boehner will resign from Congress and give up his House seat at the end of October, according to aides in his office.Mr. Boehner was under extreme pressure from the right wing of his conference over whether or not to defund Planned Parenthood in a bill to keep the government open.
Boehner Statement:
Boehner aide's full statement on impending resignation. Comes amid rumblings of conservative coup. pic.twitter.com/ZB3IY8xdbC
— Benjy Sarlin (@BenjySarlin) September 25, 2015
* * *
With Boehner gone, the debt ceiling vote just got a lot trickier for the White House and Wall Street. A LOT TRICKIER.
— Damian Paletta (@damianpaletta) September 25, 2015
And the market knows it...
Here is Goldman's take on the surprising announcement:
- Boehner plans to step down as House Speaker and resign from Congress at the end of October, according to several reports. This comes following pressure from conservative members of his caucus to block an extension of government funding due to the controversy over Planned Parenthood. Members of Congress will elect his replacement as Speaker after he leaves his position. Many view current Majority Leader Kevin McCarthy as a likely replacement.
- In our view, this significantly reduces the probability of a government shutdown next week. The Senate is expected to pass legislation on Monday (Sept 28) to extend spending authority, probably to December 11. Speaker Boehner was under pressure not to accept this “clean” extension of spending authority (i.e., one that did not include changes to Planned Parenthood funding). His resignation, expected at the end of October (i.e., after the funding extension has passed), is in our view a strong signal that he plans to bring the clean extension up for a vote despite opposition from House conservatives. In essence, this announcement is meant to preempt the expected attempt to remove him from his position after he extends spending authority.
- The next relevant question for financial markets will be how this affects the debt limit and other pending issues. There is a clear possibility that the vote next week, which was initially expected to deal just with the extension of spending authority, could instead also address other issues like an extension of the Export-Import Bank and, possibly, even an extension of the debt limit, which we believe will need to be raised before Congress adjourns for the Thanksgiving break in late November.
And here is BofA:
Boehner has been vocal about avoiding a shutdown. With the timing of this announcement shortly ahead of the budget deadline next week, we expect that Boehner's resignation will allow him to work across party lines to pass a continuing resolution. In our view, this decreases the chances of a shutdown next week.
Boehner's resignation may increase risks of brinkmanship going forward. His replacement may have more difficulty generating consensus when the debt ceiling becomes a more urgent issue in November or December and when a potential continued resolution likely expires in December.
In our view, the market is likely to look through brinkmanship as it did in 2013. A shutdown may impact growth, but we expect the effect to be limited. This does shift risks of turmoil out toward the December Fed meeting, when we expect the Fed to raise rates. Still, we think the Fed is likely to look through any brinkmanship unless there is a large, unanticipated shock.
Elections will be held for a successor. It is expected that House Majority Leader Kevin McCarthy may be elected for the role. House Financial Services Committee Chair Jeb Hensarling and Freedom Caucus Chair Jim Jordan are other potential candidates.
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He just couldn't keep it up.
You know there is a Hastertism at the bottom of this ZHers. So what is it?
Lay your predictions out!
The Republican Party has never been in such a mess. It's a complete shambles.
It is very possible that Donald Trump will completely hijack the Republican Party - just because there is no unity left amongst the Conservatives.
Uh...both parties.
Bernie Sanders is the front runner and he ain't even a Democrat.
lol
happens when you betray the people, the people bring the pitchforks.
Does Boehner have a young son that spent a couple hours alone with the pope?
Boehner himself was an altar boy when young.
Maybe he was crying due to the lawsuit he has not filed against the
church. He is leaving before they run out of money.
Next up: Congressional teahadists demand to shove Atlas Shrugged up Pope's ass while they masturbate to video of Mama Grizzly Sarah Palin getting butt-fucked by a bull moose.
Do you lick your mother's pussy with that mouth?
Are you an editor at Daily Kos?
that's about their level of discussion.
Blow to the GOP? Mr. Cave to Obama?? Finally this liberal democrat is leaving, don't let the door hit you on the way out John.
Good fucking bye!
Cantor the fake conservative - GONE
Boehner the face of cuckservatism - GONE
only 500 or so more to go!
So who in the fuck will be the next ass kisser that does nothing right for the American people? Kevin McCarthy??? Quick check on him notes his desire for amnesty. God help us!
Boehner sucks as Speaker, he doesn't have the stones, and his fellow lawmakers just run him right over. A Speaker has to be able to control the children, and Boehner always seemed to end up being overpowered and tied up in a chair while the kids trash the place around him. Say what you want about Pelosi (and there's PLENTY to say there!), she DID have the ability to control the kids. They may not have liked her, but they rarely tried to mess with her. Maybe that's it...a Speaker is a 'parent', the adult in the room, and Boehner was like those ones who try too hard to be a friend instead of a parent. Pelosi said, "I'm NOT your friend, I'm your Mother, and the answer is No." He was wishy-washy and she was a bitch, but he was ineffective and she got some work done, so take your pick.
That being said, I DO believe there is a decent guy in there, one who WANTS to do the right thing, but just can't find a path. THAT'S why he drinks and gets emotional. The difference between what he WANTS to be, and what he sees every morning in the mirror, is just too great, and it eats at him.
His position makes him a fair target for abuse, but I don't see him in as negative a light as many. I think the job was just all a bit much for him...Any longer and he was going to end up letting the kids have Pixie sticks and Red Bull for breakfast and shave the cat, and he knew it...time to go.
speaking of goodbye's...how do you delete your ZH account?
Awwww......
Sand in the vagina is serious, but there are treatment options.
john like former speaker denny hassert has pederast problems - we got the pics of you and that 12 y.o. boy Johnny you gotta go. he is crying cause he knows the dirt is going to come out anyway..even those millions in off shore banks are not enough to make him happy..suicide watch on this one.
I usually use a rusty piece of steel wool and bleach...give it a few weeks and the sand just falls right out. In all seriousness...maybe having an account here for nearly 2 years and trolling for 4... is just fucking getting old... and hey, thanks for being concerned with the 'ole tuna cooch you cute lil kitty.
What a fucking crybaby. Whaaaa, sniff sniff, whaaa.
I don't think the GOP suffered another "blow".
They just lanced a boil.
If I was Boner with all that special interest cash in my oversized suitcases, I'd be on a plane to my own private island also - Boner may be a mistake, but he's smart enough to get out while he can and can see the writing on the wall.
When I got the news, I cried too.
Plus ça change, plus c'est la même chose
Articles on Yellen's shaky re-do should be top news today?
Thank goodness Boehner decided to resign TODAY.
Fuck Boehner and fuck his socialist roman pope. Go crawl off and die somewhere.
Kabuki theatre.
Remember, as the third worst president, Rosenfeldt, said in a moment of truthiness, “In politics, nothing happens by accident. If it happens you can bet it was planned that way.”
..!.. ZH
This is going to turn out to be a disaster for the conservatives in the Republican caucus. Up until now they could climb out on the ledge confident that Boehner would be there to plead with them to not jump and to cajole and bribe them to climb back in. But Boehner is visibly tired of them and being treated like a Pinata and is leaving them to fend for themselves.
If the conservatives get their way, the new speaker will be out there on the ledge with them. Obama is more likely to close the window than he is to plead with them to climb back inside.
When rats are cornered, they turn on each other.
Why wait till the end of October? GET THE FUCK OUT NOW YOU MAGGOT!!!
Realistically he has to get past the continuing resolution issue and he has to give the caucas time to choose a successor.
Then the only solution is to lynch the asshole
Let's see these "conservatives" dismantle one cabinet position. Just ONE unimportant little parasite job in a vast sea of bureaucracy. They won't. They'll grow the bureaucracy just like they always have, and laugh at the people who vote for them.
I think Boner should keep his seat. Then tie him to it and throw it into shark infested waters and dump chum on him.
They probably have a video of boner blowing a dead goat. That poor goat.
Boner's home movies
OK, this whackcase was crying like a baby after a private session with the Pope and all through the Pope's speech. Call me a conspiracy theorist, but the Pope is on the East Coast, the Chinese Premier is on the West coast, Janet Yellen fails to raise rates contrary to the market's best cheerleaders' wishes then has some sort of lapse while giving a speech last night, and Boehner steps down without any warning.... Something is up and when something is up, it usually doesn't mean good things are on their way for me and you. PS When I heard Boehner was resigning at the end of October, all I could think about was the about was the resignation of James Cromwell's character in Deep Impact. Like I said, WTF don't we know?