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Congress Resumes Debt Limit Discussion

Tyler Durden's picture




 

The soap opera has resumed in Congress. Feels a little deja vu'ish? So it should. The expectation is that Congress will pass the "amended amended" Boehner Bill around 6 pm. The same as yesterday. Will it pass? Who knows. If not, expect overnight GC to surge on Monday, yields on Bills and CMB maturing after August 2 to surge, even as the 30 Year plunges to zero, making a mockery of UST curve "market efficiency." On the other hand, Obama will likely just end up invoking the 14th amendment, and then we will have a constitutional crisis to go along with all the other drama.

 


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Fri, 07/29/2011 - 14:20 | 1505800 slaughterer
slaughterer's picture

Don't they have Monday to do this again? 

Fri, 07/29/2011 - 14:22 | 1505808 bigdumbnugly
bigdumbnugly's picture

it's just another manic monday...

http://www.youtube.com/watch?v=lAZgLcK5LzI

Fri, 07/29/2011 - 14:23 | 1505815 Fascist Dictator
Fascist Dictator's picture

Yes, this is the famous Friday cliff-hanger. Nice and soapy  ;-)

Fri, 07/29/2011 - 14:57 | 1505947 RacerX
RacerX's picture

Laughed while I was eating and milk came through my nose.

So is this video the budget debate or afternoon soap acting tryouts? Almost has that "revival weekend" feel to it. Can I get an "A-MEN!"

Fri, 07/29/2011 - 16:14 | 1506263 Fascist Dictator
Fascist Dictator's picture

channeling Maxwell Smart, "Sorry about that Chief."

Fri, 07/29/2011 - 16:59 | 1506436 smlbizman
smlbizman's picture

is it just me or does pelosi look like wax fruit melting?

Fri, 07/29/2011 - 17:17 | 1506494 macholatte
macholatte's picture

 

 

"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion--when you see that in order to produce, you need to obtain permission from men who produce nothing--when you see that money is flowing to those who deal, not in goods, but in favors--when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed."

Ayn Rand ~ Atlas Shrugged

Fri, 07/29/2011 - 17:41 | 1506559 NewThor
NewThor's picture

And Howard Roark laughed, "I AM AWESOME!"

AYN RAND - The Fountainhead

 

Fri, 07/29/2011 - 18:23 | 1506637 tempo
tempo's picture

Recent Bloomberg article estimates USA total unfunded debt exceeds $200 trillion. With 65000 people per day going on social security, 1% GDP growth, labor costs 10 times that of China/India, all wealth with be confisicated over time. All gold transactions are being tracked and individuals will be required to surrender their gold at a fraction of cost under penalty of $10,000/oz fine and/or 10 years of prison for not complying. Yea, holding gold will protect you.

Sat, 07/30/2011 - 00:37 | 1507279 samslaught
samslaught's picture

Paranoid coward. I don't hold gold for protection, I hold it because I'm free. My gun is for protection.

Fri, 07/29/2011 - 14:24 | 1505818 oogs66
oogs66's picture

Isn't this bill even less likely to be approved by the senate?  and the president?  what is the point?  how many times can the algo's buy stocks on the same news?  and news that doesn't even support buying stocks in the first place?

Fri, 07/29/2011 - 14:41 | 1505886 slaughterer
slaughterer's picture

algos can just keep on buying forever on false news points.  They never think, they never stop. 

Fri, 07/29/2011 - 15:24 | 1506069 Eric Cartman
Eric Cartman's picture

I'm like an algo. I'll play the game for a few ticks. 

Fri, 07/29/2011 - 18:19 | 1506625 Quantum Nucleonics
Quantum Nucleonics's picture

It can be amended in the Senate to look more like the Reid plan.  Assuming it got enough votes, the House and Senate would have a conference to haggle over the differences.  The final version would then go to both the House and Senate for a final vote.  That's the way it is USUALLY done with important, complex legislation.

Fri, 07/29/2011 - 14:25 | 1505822 chet
chet's picture

I just read that even if everything goes perfectly for the Reid bill, it won't be voted on until the afternoon of August 2nd.  And that's before it's reconciled with the House.  So basically, we're going to blow the deadline.  The only thing that might mediate is if they can announce a "sure thing" deal before then, even if they don't have a chance to vote on it until the 3rd or 4th.

The House bill only requires an Amendment to the US Constitution, so that's a pretty low bar.

Fri, 07/29/2011 - 14:28 | 1505834 SheepDog-One
SheepDog-One's picture

Ammendment to the constitution requires 75% of all states in agreement, thats an easy done deal?

Fri, 07/29/2011 - 14:30 | 1505846 HelluvaEngineer
HelluvaEngineer's picture

This administration will probably propose a Facebook poll, so it's likely doable in time.

Fri, 07/29/2011 - 17:47 | 1506570 infinity8
infinity8's picture

tweet tweet!

Fri, 07/29/2011 - 14:39 | 1505879 chet
chet's picture

I was being sarcastic

Fri, 07/29/2011 - 14:41 | 1505884 SheepDog-One
SheepDog-One's picture

I see.

Fri, 07/29/2011 - 17:50 | 1506577 unknownknowns
unknownknowns's picture

 

 

Sarcasm being; a supreme illustration of subtle humour.

IMHO

Fri, 07/29/2011 - 17:16 | 1506493 mynhair
mynhair's picture

SD1, yes, it's more than doable.  Count the blue states.  And wake up!

Fri, 07/29/2011 - 18:16 | 1506622 DosZap
DosZap's picture

Here it is in all it's glory...........................I can really see them agreeing on this.

http://law2.umkc.edu/faculty/projects/ftrials/conlaw/articleV.htm

Fri, 07/29/2011 - 18:28 | 1506653 Quantum Nucleonics
Quantum Nucleonics's picture

I think you missed the sarcasm in their comment.  :-)

Seriously, though, the Republican/Tea Party balanced budget amendment demand only applies to getting it through Congress.  That requires 2/3rds of each chamber of Congress.  Even if they hammer out a deal, the amendment won't pass.  It's mostly about having the vote to score political points.  Only after an amendment passes both chambers of Congress does it go out to the states.  Incidentally, it would have a decent chance of getting to 3/4ths of the states if it ever got that far.

Fri, 07/29/2011 - 15:08 | 1505996 TwelfthVulture
TwelfthVulture's picture

It doesn't require an Amendment to the Constitution only that an Amendment be sent to the states for ratification.  Think ERA.

Fri, 07/29/2011 - 17:10 | 1506471 wang (not verified)
wang's picture

What you need to remember is who created the August 2 deadline

 

and of course to a tax cheat deadlines mean squat, Aug 2 is arbitrary and will be recast to fit the script e.g. Aug 5

 

When you think about it, which would O rather be dealing with, the GDP number or this soap opera - lesser of two evils and if one brings out the tin foil you might even conclude that some have intentionally created/prolonged this crisis because of the looming GDP disaster

Fri, 07/29/2011 - 17:47 | 1506572 CrashisOptimistic
CrashisOptimistic's picture

No point in even passing the Reid bill.  It has no chance in the House.

Fri, 07/29/2011 - 14:25 | 1505826 Cleanclog
Cleanclog's picture

None of the Congresssheeple want to have any vote on their record regarding debt, budget, etc.  They'll keep sploshing around until Obama does the 14th Amendment idiocy.  Can kick, rinse repeat Groundhog day until it just doesn't work anymore.  As long as Dancing with the Stars and the NFL keep people occupied/distracted the charade marches on.

Fri, 07/29/2011 - 22:55 | 1507157 Calmyourself
Calmyourself's picture

He cannot and he will not. 

Fri, 07/29/2011 - 14:26 | 1505828 SheepDog-One
SheepDog-One's picture

Bunch of BS is all it is, they have no money, we have no money, GDP is sub 1% which means theyre not getting any money....tempest in a teapot until they set off the false flag diversion probably nuclear attacks this time of *poof* there goes everyones pensions, 401K's, into Treasury control. Enjoy.

Fri, 07/29/2011 - 14:37 | 1505869 baby_BLYTHE
baby_BLYTHE's picture

exactly

Best to sit on the sidelines with our Gold and watch it all burn down.

Markets are a fraud, Gold ain't buying the BS.

Fri, 07/29/2011 - 14:42 | 1505888 SheepDog-One
SheepDog-One's picture

Im with you Blythe, sit on the deck with some umbrellas and drinks and watch them shred each other over some worthless paper. 

Fri, 07/29/2011 - 17:38 | 1506552 caerus
caerus's picture

this is bullish for bullshit

Fri, 07/29/2011 - 14:27 | 1505829 itsallajoke
itsallajoke's picture

You really think this dog and pony show is that surprising? 

Talk about utter and complete BS...  

There aren't enough rotten tomatoes and cabbages to throw at these morons!

Fri, 07/29/2011 - 17:26 | 1506523 mynhair
mynhair's picture

Shoes.  Think shoes.  Building a store of really smelly tennies for when Oweblahma hits Ft. Myers.

(He'd never come here.)

Fri, 07/29/2011 - 14:29 | 1505840 SheepDog-One
SheepDog-One's picture

$5 trillion in 401K and pension ETF funds, people think that pot of gold is just going to sit there unmolested thru all this? Just sayin.

Fri, 07/29/2011 - 14:32 | 1505841 Smiley
Smiley's picture

Just a statistic in the shadows of the real world
The system's failing you just the way it failed me
Hell is home on the concrete where the city bleeds
America - home of the free - land of fucking
disenchantment

 

SLAYER

Fri, 07/29/2011 - 14:31 | 1505848 Roy Bush
Roy Bush's picture

ZZZZZZZZZZZZZZZ.....what a f'n bore!  Is this democracy or what!?

Fri, 07/29/2011 - 14:35 | 1505862 itsallajoke
itsallajoke's picture

I'll take "Or what"

Democracy has been lost on our goubbert for at least 50+ years..

It is disguesting..  and no one cares..  to apathetic with their starbucks, and their own little worlds filled with apple-toys and coke and hookers. 

Fri, 07/29/2011 - 15:19 | 1506052 Roy Bush
Roy Bush's picture

I'm apathetic without my Starbucks, coke and hookers.   As far as I'm concerned, to be "apethetic" is to be right.  What a joke of a process.  To take this seriously is to be insane!

Fri, 07/29/2011 - 17:11 | 1506476 UncleFester
UncleFester's picture

Actually, it IS Democracy!  That's why we were suppose to fight to keep the Republic.  You are witnessing pure, unadulterated Lawlessness coming at you live on national television from your elected officials...precisely because this IS a Democracy.  Watch them as they sign the names of another generation yet born to the new contracts.  Debt slaves, bitches.

Fri, 07/29/2011 - 14:33 | 1505855 RobotTrader
RobotTrader's picture

 

 

Bonds on fire.  TIP just broke out to world record highs.

Uncle Gorilla paper trading as if it were just upgraded from AAA to AAAA!!!

GDX getting absolutely smoked again.  Another day where "Paper" rules over "Things"

Fri, 07/29/2011 - 15:36 | 1506104 Zing
Zing's picture

Who the heck is actually giving you a positive rating?

Fri, 07/29/2011 - 17:01 | 1506437 mynhair
mynhair's picture

Me, for one, dick.

Your 2 week life is lame.

Fri, 07/29/2011 - 17:52 | 1506580 DoChenRollingBearing
DoChenRollingBearing's picture

RobotTrader is a TRADER.  That's why I never junk him.   He points out short-term moves.  He also offered up his Moster Box of AG Eagles right up there near silver's last top.  Silver then went down.  But, I would bet that RobotT still has his silver...

Might be a lttle easier on us perma-bulls on gold though.  Get junked less.  Unless he IS a Robot too, then wouldn't care!

Fri, 07/29/2011 - 16:54 | 1506419 MaxFrost
MaxFrost's picture

Robo, I know you know this but...GDX is paper too. The stuff you can use to weigh your papers down went up today.

Fri, 07/29/2011 - 18:20 | 1506628 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

That's just the "dead Geithner bounce".

Fri, 07/29/2011 - 14:36 | 1505868 Greater Fool
Greater Fool's picture

::golf clap:: Politainment at its best!

The relevance of all this can be easily discerned from 10Y Treasury yields. Down, what, more than 10bp today? Enjoy your screen time, gentlemen.

Fri, 07/29/2011 - 14:37 | 1505870 wombats
wombats's picture

They race headlong toward the cliff.  Will they hit the brakes in time and save the world, or will they run it headlong over the edge?  Stay tuned as the drama unfolds.  It's just like watching a TV soap opera with a cliff hanger at the end of each episode.

 

You can bet that the pols all have parachutes in hand.  They may send the train over the edge to the unknown but you can be sure that no pols or their finances will be harmed.  As for the rest of you little people, who cares?

 

Enjoy the show.

Fri, 07/29/2011 - 14:37 | 1505871 ZackLo
ZackLo's picture

Rofl, what a joke I can't watch anymore of this I'll break my monitor fucking political hacks who understand nothing about the banking system or economics....Broke system bitchez better recognize 100 years of failed economics coming to a T in a ussa state near you...

Fri, 07/29/2011 - 14:44 | 1505891 SheepDog-One
SheepDog-One's picture

Just a puppet show to keep the Gomers entertained while false flag attacks that will make 9-11 look tiny are final prepped.

Fri, 07/29/2011 - 14:47 | 1505908 itsallajoke
itsallajoke's picture

Another False flag will result in them all hanging from tall trees.. 

 

We use trees so the Envirmentalists don't scream were polluting.. "IT's enviromentally friendly!"

Fri, 07/29/2011 - 15:07 | 1505994 Rylie
Rylie's picture

Go long Hemp Rope

Fri, 07/29/2011 - 15:51 | 1506106 flattrader
flattrader's picture

I know that scared little boys feel like big men when they talk about hanging people etc...(which is getting tiresome)..

but, I guess my question is, "If you're all so tough, why wait?...and waiting for what exactly?"

Probably the same reason Ken Lay walked the streets with impunity for almost two years before his death (from natural causes) and Angelo Mozillo is still getting those marvelouis tans.

Fri, 07/29/2011 - 14:44 | 1505892 slaughterer
slaughterer's picture

For all those calling these House debates BS, please notice how some popular ZH tropes pop up in some of these House discourses at times.   

Fri, 07/29/2011 - 14:47 | 1505903 TheJudge2012
TheJudge2012's picture

The 14th doesn't say you can't default. Defaults only occur on valid debt.

Fri, 07/29/2011 - 14:47 | 1505907 PaperBear
PaperBear's picture

If understand the 1802 Organic Act of the District of Columbia and the 1871 Organic Act of the District of Columbia correctly I think America has been having a constitutional crisis for 140 years.

Fri, 07/29/2011 - 14:47 | 1505909 Seasmoke
Seasmoke's picture

Groundhog Day

Fri, 07/29/2011 - 14:50 | 1505921 adr
adr's picture

If Obama invokes the 14th amendment can we hold him accountable for treason? The 14th in no way says that he can bypass congress and spend money. FU Bill Clinton for even trying to bring up that load of horseshitte!!!!

If Obama sends the US military into cities to suppress a rebellion then YES THAT DEBT CAN NOT BE QUESTIONED AS PER THE 14th AMENDMENT.

To borrow money and spend it based on nothing more than political pandering to his welfare base, NO HE MAY NOT.

Who do you think Obama will pay:

Grandma and Grandpa on SS

or

His base of social welfare frauds

There is only enough tax receipts to pay for one of them. Grandma won't torch cities when her check doesn't come in the mail.

Fri, 07/29/2011 - 15:05 | 1505984 SheepDog-One
SheepDog-One's picture

Guess it all depends on the definition and point of view of 'rebellion'.

Fri, 07/29/2011 - 17:53 | 1506583 CrashisOptimistic
CrashisOptimistic's picture

Lawrence Tribe has already analyzed the question and said he cannot make use of the 14th Amendment to do anything.

A law which says the debt shall not be questioned does not trump other laws.  Would it excuse him from committing murder in order to pay it?

The president is contrained in spending by a Debt Ceiling.  It is the law of the land and he must obey it.

There is sufficient tax revenue to service the debt, so it's a moot point.  Other "obligations" are the equivalent of service contracts, like the one on your fridge.  Such contracts can be cancelled.  They have no Constitutional protection.

Sat, 07/30/2011 - 00:46 | 1507288 samslaught
samslaught's picture

Grandma and grandpa shouldn't be on social security until they are 85. Welfare is a blatant socialist scheme but old people using something intended as a safety net for the few that need it as a retirement program aren't much better in my book.

Fri, 07/29/2011 - 14:52 | 1505930 slewie the pi-rat
slewie the pi-rat's picture

i tried to declare today & monday federal holidays, yesterday 

nobody listened...

Fri, 07/29/2011 - 18:37 | 1506686 oldman
oldman's picture

Slewie, thanks

you're a funny dude     om

Fri, 07/29/2011 - 14:57 | 1505945 DOT
DOT's picture

14th it will be.

Fri, 07/29/2011 - 15:03 | 1505979 slaughterer
slaughterer's picture

+14, dude.

Fri, 07/29/2011 - 15:07 | 1505995 alien-IQ
alien-IQ's picture

Tyler...what is this "constitution" thingy you keep referring to? I can find no clear evidence that such a document still exists other than as a historical relic at the Smithsonian. But as an article of Law...it's gone baby. Gone.

Fri, 07/29/2011 - 15:10 | 1506006 nolaguy
nolaguy's picture

Looks like Beer Friday is starting early today - this is so painful.

Fri, 07/29/2011 - 15:18 | 1506049 Winston Wolf
Winston Wolf's picture

In search of change that can be believed in .....

USPIGS

Fri, 07/29/2011 - 15:23 | 1506062 Pedro
Pedro's picture

The white haired guy said that the "tea party" is a special interest.  Hmmm.  We know these guys are in LaLa Land but, they need to spend time with real folks every now and then.

Fri, 07/29/2011 - 15:25 | 1506071 r101958
r101958's picture

Rep Van Hollen says: 'Tea Party unfit to govern'......what a crock.

Fri, 07/29/2011 - 15:27 | 1506080 Lmo Mutton
Lmo Mutton's picture

Peasants aren't real folks.

Lobbyists are teh shizit crowd

Fri, 07/29/2011 - 15:29 | 1506084 Lmo Mutton
Lmo Mutton's picture

Popcorns ready. Should I go with salt?

Go with sugar.

 

Burn it with the country?

 

Fri, 07/29/2011 - 17:19 | 1506501 mynhair
mynhair's picture

Garlic & parmesan & beer.  Party on!

Fri, 07/29/2011 - 15:56 | 1506190 LauraB
LauraB's picture

Here's the latest vote tally: http://thehill.com/homenews/house/173745-whip-list-on-boehners-new-plan-...

Only 15 Republicans are still voting no.  There are 28 undecided.

Fri, 07/29/2011 - 17:29 | 1506530 AbandonShip
AbandonShip's picture

These are the 28 the bankers and establishment need to "buy off"

Fri, 07/29/2011 - 16:03 | 1506221 Dr. Gonzo
Dr. Gonzo's picture

What happened to the idea they were floating of minting a trillion dollar coin? That would have been a legal and constitutional option so long as the coin was made of gold or silver. How could anybody make change for it at the at the store though?

Fri, 07/29/2011 - 17:03 | 1506451 Seasmoke
Seasmoke's picture

just pass it around like a joint

Fri, 07/29/2011 - 16:39 | 1506360 docmac324
docmac324's picture

Job justification and self promotion propaganda 101.  Welcome to the bigtop.

Fri, 07/29/2011 - 16:39 | 1506362 YesWeKahn
YesWeKahn's picture

Who is the kid sitting next to the speaker?

Fri, 07/29/2011 - 16:47 | 1506372 divide_by_zero
divide_by_zero's picture

Spoiler: The 14th amendment is already in effect. There is nothing to "invoke".

Fri, 07/29/2011 - 16:50 | 1506407 YesWeKahn
YesWeKahn's picture

Is this real?

Fri, 07/29/2011 - 16:50 | 1506409 Praetorian Guard
Praetorian Guard's picture

I'm telling you guys, CoG is planned and contingencies are going to be launched. Expect ML - things are very bad. Like I said in another thread many "top" guys are bailing out and settling for early retirement.

 

https://www.gunsgrubandgold.com/forum

Fri, 07/29/2011 - 16:58 | 1506421 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Mel Watt just screamed his head off about lord knows what.  And now Fwank is on the mic, looking like he just swallowed his tongue.  Name calling, name calling, name calling.  And Shiela Jackson Lee urges the President to invoke a debt raise on his own, which is insane.  She is insane.  Repubs look just as stupid.  They have not brought up one real issue on why the debt is a problem.  The problem is this country has handed over all their wealth to a group of corporate banks.  There is no accountability from either side.  Both ignore the problem:  Monetary and fiscal policy is a sham. 

It is run by a private banking cartel known as the Federal Reserve System.  The "Fed" and its cartel of globalist banking houses seem to be in the clear, while politicians nit pick about the crumbs that are left out of the people of the Unidted States of America's pocket.

One big circus, I tell you.  One big circus.

Oh, and the US government will default.  Yes they will.  And then the BIS, IMF, and World Bank will swoop in and treat the situation like they do with failed 3rd world states.  They will use as collateral the gold on the Fed's books, the debt/GDP of the US, and the other credits and obligations of the Treasurie and Reserve Bank.  Good luck America, for we hardly knew thee.

Fri, 07/29/2011 - 17:06 | 1506461 Vic Vinegar
Vic Vinegar's picture

The final paragraph is so crystalline it's worth being bolded:

Oh, and the US government will default.  Yes they will.  And then the BIS, IMF, and World Bank will swoop in and treat the situation like they do with failed 3rd world states.  They will use as collateral the gold on the Fed's books, the debt/GDP of the US, and the other credits and obligations of the Treasurie and Reserve Bank.  Good luck America, for we hardly knew thee.

Fri, 07/29/2011 - 17:23 | 1506512 Mr Poopra
Mr Poopra's picture

I'm convinced this was the plan all along. The question remains of who will have the authority to accept the IMF's terms when most of our elected representatives will be dangling from DC lamp posts.

Fri, 07/29/2011 - 18:24 | 1506640 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Grab a bag before you read my answer, you may puke.....

Jaime Dimon.

I know, I don't like it either, but maybe you will agree, the way this was set up was to have the governments bankrupt and the Banks solvent.  The Major Banking Houses will make the loans from the IMF/World Bank as Private Dealers as they do now via the Federal Reserve Bank.

Fri, 07/29/2011 - 17:33 | 1506538 UncleFester
UncleFester's picture

I understand his point, but he actually got some facts wrong.  Most of the gold is on the US Treasury's books and still accounted for at $44.22/oz.  The Fed has little compared to the Treasury.  The Fed gave its physical to the Treasury in exchange for paper gold certificates.  Then the Treasury gave some of the physical to the NY Fed for storage.  Alot of people think that the US Treasury gold at the NY Fed is no longer there, but I disagree.  It is still physically there but likely has multiple claims against it (fractional reserve ponzi bs).  The US Treasury can, at anytime, revalue its gold in $'s to whatever price is necessary to pay its debt.  What $-price is the question.

Fri, 07/29/2011 - 18:29 | 1506661 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Fed has the gold on loan to the Treasurie.  The Treasurie can exercise the payment, redeemable in cash.  The gold is housed by the Fed, and sits as the Fed's asset.

Fri, 07/29/2011 - 17:03 | 1506450 Founders Keeper
Founders Keeper's picture

For anyone who wishes to email their US representative, here are the .gov links.

Send my best. ;)

 

http://www.house.gov/representatives/

http://www.senate.gov/general/contact_information/senators_cfm.cfm

 

Fri, 07/29/2011 - 18:03 | 1506597 caerus
caerus's picture

"dear congressperson...i would like my money back...thanks..."

Fri, 07/29/2011 - 17:04 | 1506454 YesWeKahn
YesWeKahn's picture

Why these people care so much about a small drop in the stock market? Why the stock market can not go down? It's absolutely stupid.

 

Fri, 07/29/2011 - 17:21 | 1506506 mynhair
mynhair's picture

but...but...Crammer assured me this is the Summer of Recovery 2.0!

Fri, 07/29/2011 - 17:04 | 1506455 CustomersMan
CustomersMan's picture

 

 

     When the FED wanted to protect it's friends, Banks, including Foreign Banks, and Corporations of every discription, with money and guarantee's ABOVE THE $700 Billion Authorized,  they simply went ahead and created it. Many TRILLIONS of DOLLARS. Then tried their very best to hide the evidence.

 

     No wrangling, back and forth, to and fro debate on the pro's and con's, They Just Created It, outside any debt limit talk, outside any legal authorization, above and WAY beyond the $700 Billion.

 

     Now all of a sudden, when its for the American people, Social Security Recipients, there is all this discussion about whether it's legal, or within the limit authorization.

 

    Is it me, or what? It seems so blatent and in need of severe disipline, its just screaming at the top of its lungs for punishment, and yet the banal chatter somehow continues un-abatted. To even sit down for any discussion of any kind, is way beyond comprehension.

 

Fri, 07/29/2011 - 17:05 | 1506460 SOLnow
SOLnow's picture

Times up Nancy, shut the fuck up.

Fri, 07/29/2011 - 17:09 | 1506462 mynhair
mynhair's picture

Boner 3.0 will pass, so it goes to the SINate.

Reid sodomizes it, and sends it back.

Boner can choose to not put it to a vote, if he has any balls left, or

a big majority of the House Repubes can vote against.

Remember, they can change their votes at the last minute if the Dims vote for.

If the Libs are trying this, they fall into a new trap.

I ain't worried.

Fri, 07/29/2011 - 17:09 | 1506464 bob_dabolina
bob_dabolina's picture

I want to waterboard Nancy Pelosi. Is that weird?

Can we just send her to camp X-Ray? 

Fri, 07/29/2011 - 17:10 | 1506472 mynhair
mynhair's picture

You mean ride her in CA surf?  Catch the curl?

SHARK WEEK!

Fri, 07/29/2011 - 17:15 | 1506487 bob_dabolina
bob_dabolina's picture

I would throw her in the shark tank but but PETA would be all over me. She would eat them, she's sick like that. 

Fri, 07/29/2011 - 17:23 | 1506509 mynhair
mynhair's picture

pplllluuuughhh

Screen cleaning here, plese!

Fri, 07/29/2011 - 17:42 | 1506557 bob_dabolina
bob_dabolina's picture

I see your posts around here mynhair. 

Remember highschool superlatives? Well, you're this guy: 

"Talks the most, says the least" 

Fri, 07/29/2011 - 18:09 | 1506608 mynhair
mynhair's picture

Why, thank you!  Posters can't understand more than 140 character tweets these daze, anyway.

Fri, 07/29/2011 - 17:13 | 1506481 mynhair
mynhair's picture

Mooties to affirm AAA rating, with neg outlook - just on roto-rooters

Fri, 07/29/2011 - 17:30 | 1506531 Rainman
Rainman's picture

Yeah, those calls from the NSA must have done the trick. Timmay's pouring a stiff drink.

http://www.reuters.com/article/2011/07/29/us-usa-ratings-moodys-idUSTRE76S6DL20110729

Fri, 07/29/2011 - 17:15 | 1506488 YesWeKahn
YesWeKahn's picture

The House is like "women against men", "minority against dominent spicies"

Fri, 07/29/2011 - 17:45 | 1506567 mynhair
mynhair's picture

Boner 3.0 vote at 6:15.

 

Fri, 07/29/2011 - 18:04 | 1506598 10044
10044's picture

holy shit... listen to the phone calls.. unf'ing believable... people are MAD  as hell and can't take it anymore

Fri, 07/29/2011 - 18:11 | 1506610 caerus
caerus's picture

- Boehner's new plan would allow an initial increase in the debt ceiling, but would make approval of the balanced-budget amendment a requirement for raising the debt ceiling a second time. ...

ok, so no BBA for this first debt ceiling raise...but if you want to raise it a second time...then for sure...no way...not without a BBA...maybe

Fri, 07/29/2011 - 18:15 | 1506620 ??
??'s picture

Have you read the fine print??

Fri, 07/29/2011 - 18:11 | 1506611 ??
??'s picture

So if it passes and it looks like it will what does that say about the TeePty?

Fri, 07/29/2011 - 18:12 | 1506613 mynhair
mynhair's picture

To repeat for simpletons like BobD.  This will pass, be sent back in unrecognizable form, then the fun really starts!

Fri, 07/29/2011 - 18:13 | 1506617 blindman
Fri, 07/29/2011 - 18:18 | 1506624 mynhair
mynhair's picture

Notice the Dims are holding 5 in reserve to make sure it passes.

Fri, 07/29/2011 - 18:23 | 1506636 ??
??'s picture

wow I had actually thought that there was some backbone in DC banksters win again

Fri, 07/29/2011 - 18:27 | 1506647 mynhair
mynhair's picture

They haven't won jack yet.  When this sodomized bill returns, is the big one.

See those 5 Dims NV?  That's because votes can be changed.  This was the first time I've seen the vote called on time.  Dims need this bill to modify.

Fri, 07/29/2011 - 18:23 | 1506632 bob_dabolina
bob_dabolina's picture

We won't default, and no one here can tell me we will. 

We have more than enough money to pay bond holders. We have more than enough money to pay social security. 

How can we default if the debt ceiling is not raised? I don't see it.

Maybe we don't pay foodstamps (that's not default), maybe we stop providing funds for planned parenthood (that' not default) Maybe we don't pay the the EPA, that's not default....etc, etc, etc

How are we going to default? As long as we pay the people whom have leant to us, it's NOT A DEFAULT

Fri, 07/29/2011 - 18:22 | 1506633 Pain Train
Pain Train's picture

Just passed.

Fri, 07/29/2011 - 18:27 | 1506652 Long-John-Silver
Long-John-Silver's picture

Can I have a another peace of bread even if the circus is over?

Fri, 07/29/2011 - 18:32 | 1506675 mynhair
mynhair's picture

It's just starting.  Tomorrow the SINate sodomizes and passes it.  Be back in the House midnite Sun, as per usual.

Start calling your 'R' rep now to vote no, if there are any changes.

Fri, 07/29/2011 - 21:40 | 1507028 wwwmm
wwwmm's picture

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Fri, 07/29/2011 - 21:47 | 1507066 wwwmm
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