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Government Avoids Shutdown: House Passes Bill To Keep Funding Through December 11
Last week, following the shocking news that House Speaker John Boehner had resigned, we analyzed the "flowchart" of next steps for both the US government shutdown and the debt ceiling showdown. The most urgent one, that of the imminent shutdown or passage of a continuing resolution, was as follows: "Boehner will move to advance a "clean" CR -- with the help of Democrats -- before the new fiscal year starts on Thursday." And he will succeed.
This is precisely what happened moments ago when following a 277-151 vote in the House, Congress sent legislation to Obama to prevent a government shutdown and will keep federal agencies funded through Dec. 11.
As the Hill reported, however, more Republicans voted against the spending bill than in favor of it. Republicans objcted to the inclusion of money for Planned Parenthood in the bill, leading 151 GOP lawmakers to vote against the bill, compared to only 91 who supported it. Every Democrat voted in favor of the legislation.
More form the Hill:
The vote also split the GOP lawmakers running for leadership positions in the wake of Speaker John Boehner's (R-Ohio) surprise resignation last week.
Majority Leader Kevin McCarthy (R-Calif.), the heavy favorite to succeed Boehner, voted 'yes,' as did GOP Whip Steve Scalise (R-La.), who is running to succeed McCarthy.
But Scalise's opponent, House Budget Committee Chairman Tom Price (R-Ga.), voted no. So did Rep. Daniel Webster (R-Fla.), McCarthy's only opponent so far in the Speaker's race.
Reps. Pete Sessions (R-Texas) and Dennis Ross (R-Fla.), who are both running to succeed Scalise, each voted 'no,' while Rep. Patrick McHenry (R-Va.), a third candidate, voted 'yes.'
The Senate approved the legislation earlier on Wednesday in a 78-20 vote, and Obama is expected to sign it later tonight. All 20 no votes in the Senate came from Republicans, while Sens. Marco Rubio (R-Fla.) and Lindsey Graham (R-S.C.), who are both running for president, missed the vote.
Without action by Congress, the federal government would have shut down on Thursday.
As previously noted, Boehner's resignation was the key catalyst that prevented a government shutdown: conservatives had warned Boehner that a motion to remove him as Speaker could be filed if he worked with Democrats to move the short-term funding bill. But once Boehner announced he would step down, conservatives lost their leverage.
Planned parenthood wasn't the only issue at stake: Senate Republicans broadly favored moving the short-term measure even if it included money for Planned Parenthood, as did many House Republicans. They worried that provoking a shutdown would cost the GOP politically.
“We should never shut the government down over that or frankly any other issue,” said Rep. Charlie Dent (R-Pa.), a centrist and senior appropriator, said of the Planned Parenthood fight.
And so with government funded for 2 more months, the next question for Congress now is how to prevent a shutdown right before Christmas. And then there is the issue of the debt ceiling. This is what we said last week:
"the Boehner resignation may increase the risks of a government shutdown in December, and also increase the odds of the Treasury violating the debt limit or running out of cash before November. The conventional wisdom is that Majority Leader Kevin McCarthy will replace Boehner as speaker. We're not sure that matters much -- the next speaker will still face the same difficult choices as Boehner, and if he compromises too much with Democrats, his tenure could be short-lived.
... what happens in mid December or whenever a CR expires? Congress will still be faced with the same unresolved budget issues it faces today. Will Boehner's departure make it any easier to come to agreement on spending levels for the full fiscal year? At this juncture, we don't see how it would.
Most importantly, even before December 11, the government wil have to do something to extend the debt ceiling... somewhere in the vicinity of $20 trillion:
"Congress will need to address the debt limit before December. Treasury will have both exhausted its measures that allow it to issue debt and run out of cash in the third week of November. Based on cash flows over the last two weeks, we think the risk is that cash runs out a little bit sooner. September tax collections have been running weaker than our forecast, although there is still some chance for a late-month surprise with individual estimated income taxes coming in stronger than expected."
At the end of the day, just like the Greek farce, this is mostly hollow drama, however the market is so convinced that it will be resolved favorably, it is barely paying attention. And that's where the risk lies, because any deviation from the traditional script for whatever reason, will be entirely not priced in.
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deja vu all over again, eh?
We did it, guys!!! Pheeeew!
Sounds like another last-minute Christmas Eve package of goodies comin... Can't wait to see what we get.
I remember last christmas the R's gave Wall St a blank check for future derivative losses. A lot of fucktards still think we have a 2 party system.
I always wonder why they continue this charade every year. They can just vote themselves money and loans ad infinitum with the help of their counterfeiting partner, The Fed. After all... that's why it was created.
What was the second choice?
Neither party felt like giving Trump more ammo. We won't have a shut down until he is out of race or election is over.
or hell freezes over. The republicans don't even have the stomach to go through with a bit of shut-down theatre to make us think they are fiscally responsible.
Otrader-
For those who require a refresher:
(I wrote this to my worthless congressasshole at the time)
The following lines are from the budget that congress/senate/pres just enacted. The banks are attempting to shift the risk from their activities again to the depositors and to the FDIC. The only reason I can imagine anyone voted yes on this would be because they believe as Gruber does.
Please do everything you can to get this language removed/revoked/excised from our laws.
615
4 SEC. 629. From the unobligated balances available
5 in the Securities and Exchange Commission Reserve Fund
6 established by section 991 of the Dodd-Frank Wall Street
7 Reform and Consumer Protection Act (Public Law 111–
8 203), $25,000,000 are rescinded.
9 SEC. 630. Section 716 of the Dodd-Frank Wall
10 Street Reform and Consumer Protection Act (15 U.S.C.
11 8305) is amended—
12 (1) in subsection (b)—
13 (A) in paragraph (2)(B), by striking ‘‘in-
14 sured depository institution’’ and inserting
15 ‘‘covered depository institution’’; and
16 (B) by adding at the end the following:
17 ‘‘(3) COVERED DEPOSITORY INSTITUTION.—
18 The term ‘covered depository institution’ means—
19 ‘‘(A) an insured depository institution, as
20 that term is defined in section 3 of the Federal
21 Deposit Insurance Act (12 U.S.C. 1813); and
22 ‘‘(B) a United States uninsured branch or
23 agency of a foreign bank.’’;
24 (2) in subsection (c)—
616
1 (A) in the heading for such subsection, by
2 striking ‘‘INSURED’’ and inserting ‘‘COVERED’’;
3 (B) by striking ‘‘an insured’’ and inserting
4 ‘‘a covered’’;
5 (C) by striking ‘‘such insured’’ and insert-
6 ing ‘‘such covered’’; and
7 (D) by striking ‘‘or savings and loan hold-
8 ing company’’ and inserting ‘‘savings and loan
9 holding company, or foreign banking organiza-
10 tion (as such term is defined under Regulation
11 K of the Board of Governors of the Federal Re-
12 serve System (12 CFR 211.21(o)))’’;
13 (3) by amending subsection (d) to read as fol-
14 lows:
15 ‘‘(d) ONLY BONA FIDE HEDGING AND TRADITIONAL
16 BANK ACTIVITIES PERMITTED.—
17 ‘‘(1) IN GENERAL.—The prohibition in sub-
18 section (a) shall not apply to any covered depository
19 institution that limits its swap and security-based
20 swap activities to the following:
21 ‘‘(A) HEDGING AND OTHER SIMILAR RISK
22 MITIGATION ACTIVITIES.—Hedging and other
23 similar risk mitigating activities directly related
24 to the covered depository institution’s activities.
617
1 ‘‘(B) NON-STRUCTURED FINANCE SWAP
2 ACTIVITIES.—Acting as a swaps entity for
3 swaps or security-based swaps other than a
4 structured finance swap.
5 ‘‘(C) CERTAIN STRUCTURED FINANCE
6 SWAP ACTIVITIES.—Acting as a swaps entity for
7 swaps or security-based swaps that are struc-
8 tured finance swaps, if—
9 ‘‘(i) such structured finance swaps are
10 undertaken for hedging or risk manage-
11 ment purposes; or
12 ‘‘(ii) each asset-backed security under-
13 lying such structured finance swaps is of a
14 credit quality and of a type or category
15 with respect to which the prudential regu-
16 lators have jointly adopted rules author-
17 izing swap or security-based swap activity
18 by covered depository institutions.
19 ‘‘(2) DEFINITIONS.—For purposes of this sub-
20 section:
21 ‘‘(A) STRUCTURED FINANCE SWAP.—The
22 term ‘structured finance swap’ means a swap or
23 security-based swap based on an asset-backed
24 security (or group or index primarily comprised
25 of asset-backed securities).
618
1 ‘‘(B) ASSET-BACKED SECURITY.—The
2 term ‘asset-backed security’ has the meaning
3 given such term under section 3(a) of the Secu-
4 rities Exchange Act of 1934 (15 U.S.C.
5 78c(a)).’’;
6 (4) in subsection (e), by striking ‘‘an insured’’
7 and inserting ‘‘a covered’’; and
8 (5) in subsection (f)—
9 (A) by striking ‘‘an insured depository’’
10 and inserting ‘‘a covered depository’’; and
11 (B) by striking ‘‘the insured depository’’
12 each place such term appears and inserting
13 ‘‘the covered depository’’.
Phew, the ploliticians' salaries and health care benefits have been saved.
I hope the fedgov shuts down FOREVER. It is an evil criminal conspiracy, sowing violence and discord around the world.
Yes phew. I was worried blacks would no longer have access to cheap, easy abortions.
I thought Boehner was just coming out of the closet and admitting that he has been a Democrat all along, hoping that he would get his own reality show and start wearing dresses to his AA meetings.
Normally I'm all for a shutdown, but I'm traveling this month so I'm happy the FSA gets a few more months.
Where's cry-baby Boner when you need him to shut down the gov.?
Thank BABY JESUS...I was on the edge of my seat again.
Yea. Scooby was so scared that .gov might shut down. I started to cry.
they should raise the ceiling to 100 Trillion, to avoid these nasty little fights... what's the fucking difference?
Our economy is sustained by only one thing...illusion. They require these little spats to forward the perception that they are trying to restrain themselves, that they have some financial responsibility strewn between the lot, only to demonstrate in the end that they have none. Its like a high school play where only the parents of the performers show up and clap madly at every intermission, so convinced their little darlings are definitely the cream of the crop.
Delusion.
These fucks probably actually do think they are doing god's work, feverishly hammering out the infinite details of their latest capitulation.
And always, when it all goes to crap, they will have never seen it coming and be absolutely convinced that they did everything they could to save us.
I'm just not sure who I hate worse, the fucking idiots who actually believe their own shit, or the deliberately lying cocksuckers who would sell the mother for another day of power and glory.
yeah, I know...
forgot the sarc tag
Shut the bitch down.
You guys afraid of flipping burgers?
I see........
A new broom sweeps clean.
Got it.
Fucken Congrassholes.
All of this theater over a medical procedure.
If these Republicans faced the scenario of either their wife or daughter getting raped and pregnant, I know what choice they'd make.
50 million babies and counting asshole.
I wonder if that will go in the history books tallied under the Democrats like the "6 million jews" for the nazis.
That's a whole lotta rapin'!
All of those scientists, doctors, nurses - all aborted.
Nah - most likely welfare/food stamp recipients and/or military morons. A whole lot of "let's sit on the couch and watch football" geniuses, too.
And, a lot - an awful lot - of liberals and progressives.
You sure you care so much now?
Exactly. The welfare state started under LBJ. Then, a few years later, along comes the SCOTUS allowing nationwide abortions. That's no coincidence. They knew they had to have some sort of brake on all those welfare bunnies reproducing continuously. I read an estimate somewhere that w/o abortion the AA population would be over 35%. That's 3X's the Saint Trayvons and Micheal Browns. End Welfare! Forget about Planned Parenthood.
Fuck no! They will instead be claiming progressive wisdom that lead to all of the wonderful medical advancements enabled by their little butchery business, even if only their very most elite can afford it. Probably a youth tonic made from baby brain squeezings, and an organic sex aide made from tiny little balls.
It's not so much the rape and incest you moron. It's the lack of personal responsibility.
If my daughter got raped she would be on the "morning after" pill program the next day or soon thereafter. That would be responsible. For a raped daughter to go 3-6 months and then decide to deal with it is a typical liberal procrastination and inability to make a simple decision. It is simply an argument created out of whole cloth, meant to decieve, obfuscate reality and support a progressive narrative.
All of this theater over a medical procedure.
If these Republicans faced the scenario of either their wife or daughter getting raped and pregnant, I know what choice they'd make.
Not worth saying once.
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...says it all.
Lack of seniority invalidates all opinions.
Got it, thanks!
Straw men invalidate a considered opinion SDD.
He's new. Give him a chance bro. It's not like we're overflowing with new talent.
https://yourlogicalfallacyis.com/
A grafical reading.
Thanks SDD.
how long before he starts bashing gold?
First of all, pointless.
Second, I've been around this place for far, FAR, longer than that.
Third, do you refute my statement about these GOP pukes? When push comes to shove, they'd drive their female to the abortion clinic. If there is still one available in their worthless state/area.
You know shit about it. Most conservatives I know would do nothing of the kind. But I would definitely drive you.
Now Woody that's not nice.
He probably can't even do higher math, making him perfectly eligible for retroactive abortion.
Standard Disclaimer: The Pre-Persons by Philip K. Dick.
Mother fucking SHOCKING!!!!
They voted to kick the can? No kidding?
Charade.
Oh wow, another couple months? Anyone with half a brain might be wondering exactly wtf is going on and exactly how bad is it? Of course, looking at the national debt clock you can see that 'how bad is it' was frozen sometime ago.
Yep, things are just A-ok around here. lmao!
http://money.usnews.com/money/blogs/new-money/2008/10/09/maxing-out-the-...
http://www.usdebtclock.org/
Huh. GOP caved to all of Obama's demands earlier than usual.
They enjoy complaining but hate conflict. The progressives goal is to make everyone, even republicans, an oppressed minority.
"Yes We Can"!
Lower the bar to increasing our deficits...
Think of it as another pre-Xmas party gift before the inevitable happens!!!
You seem to have a com si, com sa attitude.
down post.
You seem to have a com si, com sa attitude.
Can't beat 'em... Might as well join 'em!... Just like everyone else that visits here!!!
I believe we will all face 'The Judgement' when our days here are over. I shudder to think of the fate awaiting those who have continually voted to enable the slaughter of innocents. Despicable cowards too spineless to stand against nothing more than losing an election.
The Creator of us all is not a respecter of persons; breaking His law at one point is the same as breaking them all because the standard is perfection. To be the very best is to be perfect; God loves perfectly and judges perfectly; that is a big problem for the human race.
But abortions and selling baby parts is a solid domestic industry. Think of its contributions to our GDP!
This kind of crazy always concerns me especially in the US because it is readily accepted as long as it is under the guise of religion but even more so now in areas where it wasn't before including in military branches that deal with nuclear weapons.
And there it is, all DC's problems will be solved by Dec. 11, why think about it further....
Maybe a shut down is what we need to get the party started. If we can just make it applicable to EBT there would be 47 million rioting in the streets. Wouldn't take much to set off that explosion.
Hmmm..... Maybe that is what they are afraid of??
The problem is there are never any "shut-downs"; just minor and temporary closings of a few places that hurt people like the closing of national parks and veteran walls and the like. Federal employees hope for a shut down and the passing of a President, for they get a day(s) off with pay.
Getting a new credit card to pay off another credit card. Smart!
If we all did that all at the same time and then defaulted we could put an end to all of this within 2 months. I'm not advocating that; just pointing out something that crossed my mind.
No budget expected. None for 5 years. Cuz if they did they would have to give up the 1 Trillion in "stim" money that is flowing out each year...
Criminals.
Hell, I'm pro-choice but Planned Parenthood disgusts me.
If people want to get an abortion, they can pay for it themselves.
That is nice; you are pro-choice. One question. If a woman is pregnant is it a baby? If someone kills a baby, any baby intentionally; what type of person is that? Pro-choice. It is not complicated, but made complicated to rationalize the immoral acts committed by "pro-choice".
Its not pro choice, its pro convenience. If having a child were a true burden, they might be a bit more cautious about spreading their legs. Instead it is just a choice, like buying a new car or paying off your student loan.....Oh, the inhumanity of it all!
Congress sent legislation to Obama to prevent a government shutdown and will keep federal agencies funded through Dec. 11.
I knew that Planned Parenthood was a federal agency based on lies and deception and the give away is the name is the antithesis of the truth. Another example is the Affordable Healthcare, which in truth is Unaffordable or Patriot Act, which is anything but Patriotic. That works every time.
Without Planned Parenthood funding; women would not get much needed healthcare since they are banned from seeing doctors and going to hospitals everywhere else in the country. (sarc)
The real flag is what will they slip into the December 11th bill; the period when even more people are asleep and the Fascist like to push legislation they want under the "radar". then again who cares it is way past the proverbial midnight hour for this nation and world..come Lord of Lords.
It will be pushed all the way to the start of the Christmas -> New Years break and then passed at the 11th hour so the political critters can get home for the holidays.
McCarthy's district 65% poor Mexican on welfare with bad mortgage or renter, rest elderly white folk
McCarthy's district 65% poor Mexican on welfare with bad mortgage or renter, rest elderly white folk
So you think he is guided by his constituency? How quaint
Nice generalization Smitty...
http://www.politicususa.com/2013/11/13/house-vol-17-kevin-mccarthy-calif...
http://www.census.gov/fastfacts/
Facts suck when they don't support your assertions!
That's right. You too can get your government subsidized homicide....abortion today. Yay for freedom and inalienable rights of Life, Liberty, and pursuit of Happiness. This should keep the cost of spare tissue down as well
Issuing your own currency is great. The supply is infinite, and I'm not being sarcastic.
Now if we could only distribute it, for example, via a Guaranteed Basic Income that would decouple living from employment -- we could get ready for the next phase, which is definitely *not* going to be like industrial capitalism was in the 1900s, which is what all our thinking is based on.
Guaranteed Basic Income
Nobody is stopping you from issuing your own currency.
Because the GOP knows that women would be rightfully pissed off if Planned Parenthood is defunded since nearly 25% of adult women have used their services at some point in the U.S.
If the conservatives would actually focus on fiscal issues and keep the country bumpkins social conservatives on the side, I would be a lot more apt to support their positions. Pisses me off when a sheer minority thinks they should legislate morality for the masses when their position is a minor if not entirely fringe position (<20% of the population). The other irony is that these same folks claiim they are the 'realists' yet they refuse to deal with the consequences of women who have unwanted children or families that don't want any additional children.
Just look at the statistics on adoption of foster kids especially minorities. Basically if a kid gets past 5, he'll be the system for the the rest of his childhood until 18. The same people want to ban all abortions then yell and scream about the considerable costs of the foster system and the unfavorable statistics associated with these kids.
Ah,the magic $20 Trillion number,I knew Obuma wouldn't disappoint on money for war.Detroit and Chicago - Obuma says FU,it's all going overseas.
Meanwhile, the TEA PARTY defunds all the wars and Obamacare.
Or not.
Can kicked until the day before Xmas break. Of course the govt won't be shut down then as CONgressional holes wont give up their break .... and of course they can't ruin Xmas for the children now can they?
progressives run the congress, they have no party or country alliegances
Yes they do, to Israhell. We live on their plantation. The sooner we go broke, the sooner they will withdraw their fangs and go away.
You can thank John Boehner for saving the day..he got up in front of the House of Representatives and eloquently pleaded for no government shutdown..it fact he cried and cried and cried and wailed...until a vote was taken for him to stop that type of behavior...the resolution was passed..but unknown to the members they were actually voting on a resolution to fund the government...John..you old sly fox...and now you know the rest of the story...