Boehner Deficit Plan Passes: Here Is What Happens Next
As expected, the revised revised Boehner plan has passed the Congress garnering the required 216 votes to be successful (218-210 to be precise). And now that the ball is in the Senate's court, here is was happens over the next 3 days...
Via Nancy Vanden Houten of Stone McCarthy.
Majority Leader Reid today set the wheels in motion for the Senate to begin consideration of the House bill, assuming it passes, or his own debt ceiling/deficit reduction plan.
Our understanding of the procedures in the Senate is pretty basic, but the bottom line seems to be that the soonest we would see any meaningful vote in the Senate would be shortly after midnight on Saturday (i.e. early Sunday morning.) It's not clear to us whether that initial vote would be on some version of the House bill, Reid's original proposal, or Reid's proposal modified based on recommendations from Minority Leader McConnell. Without Republican input on the legislation, the odds of filibuster go up. People with more knowledge of the workings of the Senate than we have are looking for another procedural vote on Monday morning, and a final vote on some piece of legislation on Tuesday (August 2.)
Putting the logistics of the Senate aside, Reid is going to have to make some adjustments to his bill to get enough Republican support so that Republicans don't block legislation through filibusters or other tactics.
Assuming Reid can get the Senate to pass some piece of legislation, some compromise will still have to be worked out with the House. If Speaker Boehner wants to be part of a compromise that prevents default, he's going to have to shift gears in a major way. In the last couple of days, he's been working overtime to get support for his bill from members of his own party. If he wants to push through compromise legislation, he's going to have to court some Democrats, because he'll surely lose Republican votes on any compromise with Democrats.
As we noted in our comment Monday, the original Boehner and Reid plans had enough in common to suggest grounds for compromise.
The biggest stumbling block will continue to be the House bill's provision that calls for the debt limit to be increased in two steps, with the first increase only lasting through the end of this year or early this year. We don't think Senate Democrats and the White House would concede to that. As we noted in our update Monday, both the original House and Senate bills call for a new Congressional committee to make recommendations for long-term deficit reduction. The House bill made the second increase in the debt limit contingent on Congress adopting those recommendations. There are no consequences for failing to adopt the committee's recommendations in the Senate bill.
We think Senate Democrats would agree to adding some mechanism to their bill to force the adoption of the Committee's recommendations. Indeed, President Obama said today he could support some sort of enforcement mechanism if it was "smart and balanced." We don't think Democrats would support the enforcing mechanisms in either version of the House bill -- i.e. making a debt limit increase dependent on Congress adopting the new committee's deficit reduction recommendations in the first bill, or Congress adopting a balanced budget amendment in the latest version. However, Senate Democrats do seem open to requiring a vote on a balanced budget amendment as part of a compromise.
The bottom line: To get legislation to raise the debt limit, some bi-partisan cooperation will be required. Senator Reid will need to work with Republicans to move a bill through the Senate, and House Speaker Boehner will need to start wooing Democrats because he's sure to lose Republican votes for any legislation that makes some concessions to Democrats. Given the procedures in the Senate, this isn't likely to be resolved before Tuesday. If the two sides are making progress, we think there is a good chance we would see a very short-term increase in the debt ceiling lasting for a matter of days.
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Gridlock, bitchez!!!
TV's FRANK IS RUNNING THIS CHARADE!
Uh. Where can I read the bill, bitchez?
Congress hasn't read it, why should you?
To see what kind of bs debt slavery congress sign us up for....
look out for sneaky stuff like limits on private gold holdings.
Happened before in US, it can certainly happen again.
Thread hijack, but it's important: Congress is the entire legislative branch, it includes both the Senate and the House of Representatives. The bill passed the House of Reps but probably won't get out of congress
If the term congressman refers to both chambers, and a Senator is what we call a person from the Senate then what do we call a person from the House?
a 'representative'.
some refer to them as representathieves
Not for nothing, but all this wrangling back and forth about "service the debt" this, and "honour your debt" that is bullshit. What the fuck is wrong with "we, the elected representatives of our constituency hereby resume our power of the purse, and declare this debt null and void of any legitimacy, for two reasons: 1.) Unscrupulous and interbred douche bags managed bribed a corrupt few into even passing the federal reserve act in 1913 during a dead Christmas break while most were out of session, and 2.) The constitution stipulates that the congress, being the closest body of government to the people will now follow the law, which specifically designates nothing but gold and silver Coin a Tender in Payment of Debts. You don't need to find where in the constitution it says the federal government is not allowed to print unbacked paper. You must find where it gives the right to them. ALL other rights belong to the people and the states. Look on your FRNs "This note is legal tender for all debts public and private"
That statement and the fact that States uphold it, is where this is BLATANTLY Unconstitutional.
It ain't our debt. We deserve a reset, and Congress should get off of their collectively-clueless duff, and quit helping to push this can down the road, only so their own republic can be completely dismantled and turned over to a supra-national body.
THEY are on the same rug we are, which will be quickly pulled once the shit hits the fan. Looked at from a different angle, they are very thin ice, of which the people they represent shall be underneath, when it crashes.
The truth is spoken!
http://thespiritoftruth.blogspot.com/2010/11/and-god-will-wipe-away-every-tear-from.html
22 likes thus far. :) ZH rulez! Meanwhile, the silent masses remain subdued by American Idle (intentionally misspelled), cheap fast food and watery beer.
Hear, Hear, Clymer. There is even precedent for this. Although DC's idea of history sounds more like "In the beginning, FDR created big government....", history does still record one of the previous defaults (and even partial repudiation) of debt the US.
It seems the dear Rothschilds have cried wolf before. For those of you struggling to follow along, they make so much when we don't default, they can't afford to mean it when we do.
They got revenge by financing the South during the Civil War. I also think they never really got over America's castration of feudalism. America has interfered with their plans of world domination multiple times, most recently by creating the internet. This may be why we are being clusterfucked from all directions at once- they mean to destroy us completely.
Doesn't mean they don't deserve one more good kick in the balls..... Give it while you got it.
http://sanders.senate.gov/newsroom/news/?id=9E2A4EA8-6E73-4BE2-A753-62060DCBB3C3
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
The audit.....
http://sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf
so this mess is the fault of an international conspiracy of which the US government, financial community and people are not party? Which percantile segment of the people do you belong to?
The 1% or the 99%? If its the 1%, I say Amen!
If its the 99%, I say take the wool off your eyes...
Falak, there is a general unravelling of the old guard going on as we speak. India is in the midst of it's wort political crises in a long time. State wise and centrally.
The first blow-back of the US downturns are starting to show on the outsourcing companies numbers/projections, all solidly down. Restive air, though still solidly consumer-mad.
Hosni Mubarak goes on trial? That is a trend shift, eh? 30 years turned on a month in tahrir square?
Thailand recently delivered back into the hands of the billionaire set?
Japan rocked and Fuked.
Debt crisis overwhelm. PIIGS, US, Japan, China wobbling, internet protests spreading.....
There is a general imbalance in the air, a rumble. There is a quake, literal of figurative, in our near future. EIther way, we should be ready for impact, so to speak. Often, just imagining the possibility is enough preperation.
In my sentient life, I've never seen so many massive, off-balance vectors in every sphere of our existence.
Floods, mudslides, sinkholes, lightening storms.....
What more sign could a rational athiest need, what to speak of the fearful faithful?
ORI
http://aadivaahan.wordpress.com/2011/07/30/pre-cursor-01/
I agree on the factual and more the potential asymmetry that has become explosive. Looks like TPTB have created their own self serving philosophy, damned if we do, damned if we don't. What a gridlock this is in transient phase as globalisation is in tatters (see my post about the ME oil quandry below), and the US empire is now headless, steering-wheel less, and soon tire less. They will only have nukes that don't solve anything except maybe bring down the world in flames if they get into the 1930s mindset...
Our generation did not know the aftermath of that last deflagration. Maybe the black swans are now relentless to teach us all a terrible lesson. I am by nature an optimist...all I can say is hope never dies...even if we are being led by the noses...to the very edge.
.....
The Rothchilds don't finance one side of a war. They finance both sides. I believe one of the Rothchilds original henchmen was named JP Morgan. Also of note, check out Prescott Bush's role in WW2. It's a family thing.
But TPTB are the ones who PUT them there. They're ALL wanna be TPTB themselves! That's why they CAN'T change anything.
"tick-fest". Bloodsuckers only feed to reproduce.
or rentathieves
Typically, "Congressman," or "Congresswoman." And therein lies the source of the confusion.
They're all just c•cksuckers.
Leave my friend Barney Frank out of this!
<hic>
scum sucking tramps
a friend of mine works at aberdeen proving grounds as essential personal. she told us that they have orders to spend all their budget money mon. and tues. in case the debt ceiling does not pass. they are doing this because timmy will be grabbing all monies sitting in these agencys to use for his check book. sounds like a plan to me
I got 3 new uniforms and 6 ceramic coffee cups with the TSA decal on front and my name on the back. It was better than Christmas in July. hint hint.
.
--You WILL Obey!
http://www.youtube.com/watch?v=dTOcAt44_QA
Great plan. Order one part of govt to spend money in haste so that another branch won't spend it in haste. Wow, I think that's how we got into this position
As a caterpillar becomes a butterfly, so must you become Derelicte!
StormShadow it's clear you've never worked for a government agency if that surprises you. That's the way the system has worked at least for decades, and that's why less government is better.
You are correct Sir. Spend them while you got 'em or lose then forever.These are the words that every government agency learns quickly.
Well you have to pass the bill before you find out what is in it ;) DUH
the full text of the bill is impossible (for me at least) to find...(go figure)
try c span:
http://www.rules.house.gov/Media/file/PDF_112_1/legislativetext/S627%20amnt.pdf
thanks for that...and cheers
It was posted on zerohedge several hours ago.
Thanks...been a long week..and Im not that smart...excellent work as always
I want the junk button back. This is Sparta.
fucken sycophants
Not me. I red arrowed 'em.
Find the biggest guy, then red arrow his ass.
I gave you a green arrow for the always appreciated MST3K reference.
"We Have to Pass the Bill So That You Can Find Out What Is In It"
http://www.youtube.com/watch?v=hV-05TLiiLU
away from the fog? we are into the fog.
Oh well nevermind, Boehner bill already crashes and burns. Apparently they want free blank checks and not a dime less spending. Into the abyss, bitchez.
What's it called when every choice produces the same result?
Flag Fucking FREEDOM! Shout it from the Goddamn rooftops! We're free! Free to have a felonious dick shoved in our ass when we get sent to prison for breaking fraudulent contracts that steal our work.
the dating game
democracy?
Alcoholism. What'll ya have?
Where do you see this "gridlock"? It looks to me like this is moving along just the way the men in the shadows would like it to move along. Puppets are dancing and shills are shilling. The people will get fucked and the kings of high finance will dance a fucking jig. "Yahtzee!"
Shhhhh! you're ruining the ending for everbody! Please place the words "SPOILER ALERT" in all caps at the beginning of your comments if you are going to give the actual plot away. Thank you.
you should think about putting the spoiler "CAR CRASH ALERT" infront of your comments.
"BAD SMELL ALERT"
nothing
---
Wait, I wanted to add:
REMEMBER WACO
---
To anyone that thinks, "It won't happen here." It already has. Human nature is much more powerful than civility.
There is a fucking pyramid and all-seeing eye on the dollar bill with "New World Order" on it in Latin and nobody thinks it's fucking strange. WTF.
Stop talking to yourself. There is no conspiracy. Our dear leaders must be confused - we have done away with malice in our day. The banksters can't help but make all these profits.
That was good for one LOL and one green uptick...
http://www.youtube.com/watch?v=XY1gtyzxAGw
west, spot on!
@WestVillageIdiot
Obama administration voices its concern :
"We need to reach a bipartisan compromise by Tuesday so that our country will have the ability to pay its bills on time. If we don’t, for the first time ever, we could lose our country’s Triple A credit rating."
-whitehouse.gov 30 July 2011
A "Bi-partisan" bill -- In other words, Two Mob Families agreeing on how the Rackets will be run and the plunder Divvied up.
So does the TeePty cave? Some would argue they already have by passing this this.
But if they haven't caved, what circumstances could casue them to?
2 step debt limit increase and a Constitutional balance budget amendment is not caving. If they would have passed the Bill last night, they would have caved.
I had met one of those "Tea Party" reps at a party about 10 years ago. My wife knows him better than I do. When he got elected I thought he would be just another tool. After seeeing him speak on several shows I have been very impressed.
The fact they are trying to demonize the "Tea Partiers" just shows how fucking blatantly evil they are. I turned on CNBC this morning for the first time in about a year. That piece of shit John Harwood was on spewing how awful the Tea Party is for not rubber stamping this fucking monstrosity. Fuck Harwood and everybody that looks like Harwood.
The message from the presstitutes, handed down by their masters, is that the only responsible party is one that votes immediately for more completely irresponsible government.
Be kind to John he has had some personal challenges
http://www.nypost.com/p/pagesix/dc_breakup_EtPegs79RdG99Yl9rjNKPP
wow. how ugly was his wife
Ooooh, gosh, I just looked up pictures of that Cantwell broad. I think I would rather fuck a Slinky.
In USSA, Slinky Fuck YOU!
Fuck it, everyone has personal challenges. It doesn't excuse him being a tool of a reporter. Do your job. In his case, that means holding some objectivity. Oh, I forgot -- it's CNBC.
For all their budget cutting eagerness Tea Partiers can only be said to be justified IF they agree to CUT ALL CORPORATE AND MILITARY INDUSTRIAL PUBLIC ENTITLEMENTS, INCENTIVES AND LOOP HOLES - INCLUDING CUTTING PENTAGUN AND US MILITARY TO HALF SIZE IMMEDIATELY - as eagerly as they hunger to cut any and all social insurance participant and recipient financed "entitlements".
Cutting is fine - but only if it is 100% symmetrical.
Let the Tea Parties come out and say: "we will dismantle US Empire - only then do they deserve the respect reserved for people of integrity and equitable principles.
Wait for it. Not soon, but it's coming.
eureka - you're singing my song... spot on.
dismantle US foreign policy and the mil/ind. complex that profits from it. the whole fucking world hates our guts... time to come home and stay home.
Well, I for one, have been on the record for closing all our military bases in europe and letting them decide between six vacations, 32 hour work weeks, subsidized public transportation, socialized healthcare etc. vs military adventurism in Libya & eleswhere for resources for years.
Does that count?
I would say it counts - especially if you say it out loud to everyone - show them your intelligent and rational argument and encourage them to show it to their elected representatives and the media over, and over and over until everyone finally gets it. Thank you to all rational non-hegemons for exposing the pompous and self-destructive idiocy of empire.
I would think saying it on a world wide forum like ZH, at Tea Party meetings, at work, to friends and family would be enough.
We are not what the MSM has presented.
We were presented as racists at first. Of course it was a lie. Even after one of our black members (Kenneth Gladney) was beaten by SEIU union members the meme continued, now its gone, why?...because it was a lie. Another had his finger bitten off by some ACORN psycho.
We are staring evil in the face, calling it evil, beating the shit out of it and now I suppose they will call us terrorists and be supported by the ignorant .
So be it.
Edit: I see the Senate killed it...good.
Harry, keep the change ;-)
http://www.youtube.com/watch?v=_YWGTMC3u5o&feature=related
nmewn:
"... and now I suppose they will call us terrorists and be supported by the ignorant ."
Too late: I dug this out (I was only the 7th viewre ever to see this) http://www.youtube.com/watch?v=TmkXVT4VziQ (and I'll save all y'all--start at 3:25 or so)
Politico: http://www.politico.com/news/stories/0711/60202.html
http://www.realclearpolitics.com/2011/07/29/tea_party039s_terrorist_tact... etc.
Now, the question: are you in the Hezb'Allah wing? Or the Hamas wing? ;-) Me? For all kinds of reasons, I'm in the "Sam Adams Brigade."
http://www.boston-tea-party.org/index.html
- Ned
{I'm curious to see how this comes out ;-) }
We are financial terrorists?....perfect...LOL!!!
They openly bribe senators in order to pass an unconstitutional ObamaCare, they give trillions to bankers, billions to cronys, exempt the connected from laws that they themselves pass (fucking fascists), submit a yearly fiscal budget that is laughed off the senate floor 97-0 after not submitting a fiscal budget for two and a half years...and we, are finanicial terrorists.
Right.
Now, the question: are you in the Hezb'Allah wing? Or the Hamas wing? ;-)
Why, the Quantrill wing, of course ;-)
Pussy junksta'z still can click on a red thing vs. "Junk". Still Pussies.
This might help:
http://www.abebooks.com/servlet/SearchResults?sts=t&tn=seven+pillars+of+...
although pure unorganized probably can't happen yet.
- Ned
Pay them no mind...they are like the wind.
"although pure unorganized probably can't happen yet."
Never been much of a joiner...went to one in Ocala...another in G-ville...one closer to home. But we have to be on guard that it is not co-opted.
Its about fiscal sanity with me, always has been...as soon as the social crap comes to the fore I get my share of "looks" for trying to direct the conversation back to what I believe is the winning hand...so yeah, purely individual efforts relying on like minded people can't happen yet...there is a lot of de-programing that needs to occur in the masses.
We have to remember many have been lied to since birth and they don't know what to believe or think...compassion is warranted for some...but not for the hardcore slithering tongues who have chosen the side of the elite against the populace. I'm with akak on that point.
No quarter for them from here out...none.
I did several times, "eyes wide open" of signing up "for the duration"--and I understand full-well the costs and benefits of that. But, I'm with you on the "no-joiner" attitude. It amuses me no end that the SEIU folks can't conceive of like-minded, civil, usual folk who show up for a rally on their own terms and leave the place better than it was before.
Lied to since their grand-mothers' births, imho. I see no way to overcome that fault. It distresses me no end how such human waste is encouraged.
Local compassion used to come with (essentially) the local church (denomination not of interest to this discussion, they all did their good work to the best of their abilities). So the Progressives had to destroy this source of human support. Why, it might have lead the individuals out of their subserviant situation.
Calvin Coolidge dismantled WW's progressive mess, but that was then overcome. I think that there are good lessons in "Silent Cal's" early work as President. He sure did good work here in MA, until it wasn't.
This "Public Compassion" exercise sure has metastasized.
- Ned
"Local compassion used to come with (essentially) the local church (denomination not of interest to this discussion, they all did their good work to the best of their abilities). So the Progressives had to destroy this source of human support. Why, it might have lead the individuals out of their subserviant situation."
This is an overlooked point rarely picked up on.
They, progressives/socialists, have indoctrinated the people to think that any and all compassion & help must come from the federal government. As if the state is the only source of good.
Then, they turn on a dime and say the state is the source of all evil who killed thousands at the WTC. That the state abuses people by allowing a prayer at a high school football game when the opening session of Congress has one as well. So what! I don't recite the pledge of alligiance at sports events (not because of the WBTS by the way) but I do respect others who do by standing silently. I'm not offended by it, I just don't participate. They are demented.
Then they say nothing...absolutely silent...when the Atlanta school district is caught red handed penciling in test scores for mostly black students...they, in essence, stole the primary education of hundreds of thousands of kids and the left says nothing!?!?...staying in the corner sucking their "collective" thumbs.
The silence is deafening because this is how it is done in my opinion...the indoctrination.
http://www.johntaylorgatto.com/
Public education must be returned to the individual states where parents can keep a better eye on it. No more edicts from far off DC pressing this Prussian model of education. No more funds from the states to DC only to be returned after a proper scalping by over ambitious statists conducting social engineering experiments at our expense.
My rant ;-)
smaller, mon ami.
- Ned
Gee, I wonder where all the confusion could be coming from...
Maybe it "makes sense" to the "initiated", but it sounds like the same old jingoistic bullshit and defense spending spree to me.
yep, "same old jingoistic bullshit" if someone's son is in the military, he wasn't drafted, he volunteered to kill for the corporate military complex.
I know this is a very unpopular truth to swallow after decades of brainwashing that amrkn military is "serving" the country - but when folk stop parroting the meme they've been trained to *bark* every time the chain of "trrrrrrrrrst" is yanked, when they ADMIT that the military is fully volunteer and supports corporate fascism, then maybe this ship will turn.
'course, I'm not holding my breath.
Excellent observation. The Tea Party is too enmeshed in mythical patriotic dogma to see the military wastes, and a lot of other things.
I also love how something you've been taxed for your entire working life, like social security, is now called an "entitlement". Doesn't that make interstaes an entitlement for people who drive cars? Is the expense of air traffic controllers, radar and airports an entitlement for folks who fly? How about those pensions, healthcare benefits and free cemetary plots for veterans? Are they entitlements too like the pensions for all other government workers, or are they somehow different? If so, why?
The DOD expenses, that we are allowed to know about in this era of keeping everything secret, account for about 50% of the budget and much of their spending does little to nothing to help the overall GDP. But hey, their spending is sacred and if you don't believe that, then you are an unpatriotic terr'rist. This current system is too stupid and irrational to NOT collapse!
"I also love how something you've been taxed for your entire working life, like social security, is now called an "entitlement". "
You need to take that up with the ones who stole it and placed it in the general revenue account instead of a "lock box".
All the Tea Party is doing, is pointing out the fact that you have been robbed.
Sounds like Al Gore was right all along on that whole lock box issue.
Where does the Tea Party stand on this, nmewn:
The Tea Party was started because of the smuthering effect of the federal government.
You ask me to comment on some Orwellian piece of legislation? I will, no problem.
In my opinion, the bill sucks not because of its intent but because of the unintended consequences that every piece of social legislation brings with it. The cops have more than enough "tools" at their disposal without viewing everyone as a criminal.
Now ask me what I would do to a pedophile who attacked one of my children...provided of course that the pedophile lived through his enccounter with one of them.
So what is fundamentally wrong with the Tea Party itself? Your views as a Tea Party "member" on the MIC and this Orwellian shit don't seem to be taken . . . dare I say it? . . . seriously?